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of the State of Minnesota or any political subdivision thereof is pledged to the payment of <br />the principal of or interest on the Interfund Loan or other costs incident hereto. The City <br />shall have no obligation to pay any principal amount of the Interfund Loan or accrued <br />interest thereon, which may remain unpaid after the termination of the TIF District. <br /> <br />(vi) The City may amend the terms of the Interfund Loan at any time by <br />resolution of the City Council, including a determination to forgive the outstanding principal <br />amount and accrued interest to the extent permissible under law. <br /> <br />The motion for the adoption of the foregoing resolution was duly seconded by Councilmember <br />Woestehoff, and upon vote being taken thereon, the following voted in favor thereof: <br /> <br /> Mayor Kuzma <br /> Councilmember Riley <br /> Councilmember Woestehoff <br /> Councilmember Olson <br /> Councilmember Specht <br /> <br />and the following voted against the same: <br /> <br /> Councilmember Howell <br /> Councilmember Musgrove <br /> <br />and the following abstained: <br /> <br /> None <br /> <br />and the following were absent: <br /> <br /> None <br /> <br />Whereupon said resolution was declared duly passed and adopted by the Ramsey City Council this <br />the 13th day of June, 2023. <br /> <br /> <br /> Mayor <br /> <br />ATTEST: <br /> <br /> <br /> <br />City Clerk <br /> <br /> <br />Resolution #23-126 <br />Page 3 of 3 <br />