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of T~× ~('.~eme~)t Financing District No. 1 is intended and, in the <br />judg~,e~ cJ'~ the Council, its effect will be to promote the public <br />purp~,~ and accomplish the objectives specified in the Tax <br />Increm~_,~ ~':i~.ancing Plan. Specifically, the Council identifies <br />the pr~b~i~~ purposes in River's Bend Plaza to be site preparation <br />(grad~r~g a~.~d fill), landscaping, storm water management, right <br />turn '!~J',;-.~,: construction of Xkimo Street N.W., installation of <br />secu~i~? lighting, a~d the installaion of Class V and curb and <br />gutte~ ~ tt~ p~rking area~ <br /> <br /> :,'c~ction 4. Approval of the Modified Dewelo~ment <br />~i1~_ _a~<~..~o_~J~ %ax_ Increment F inanc in_~ Plan. <br /> <br /> /~o0! The modified Development Program for Development <br />Distri,'.'~, ~_!o~ 1 and the modified Tax Increment Financing Plan for <br />Tax ]~c~ ~.~:~r~t Financing District No. 1 are hereby approved and <br />adop t~(i ~ <br /> <br /> 4,,02 The geographic boundaries of Development District <br />No. 1 ~,~i ~! enlarged Tax Increment Financing District No. 1 are <br />describ~d io. the Development Program and Tax Increment Financing <br />Plan -~b~.,: amd are incorporated herein by reference. <br /> <br /> /~03 The City Administrator is authorized and directed <br />to tr;,~'~ii~ a certified copy of this resolution together with a <br />certifi~ .':opy of the modified Development Program and modified <br />Tax ~,c~ ~.,,,~nt Financing Plan to the County Auditor of Anoka <br />County ~-;~h a request that the original assessed valuation of the <br />proper~>, be~'eby added to Tax Increment Financing District No. 1 <br />be cert,ij'~',d to the City pursuant to Section 273.76, Subd. 1 of <br />the !!'~:.>,~ i':~crement Financing Act and to file a copy of the <br />Deve]c,p~,~-~i: P'cogram and Tax Increment Financing Plan with the <br />Commis'.~i~'r of the Minnesota Department of Energy and Economic <br />Deve l~p~r,,~ ~ ~ <br /> <br /> !:~,~.}4 The City may at the appropriate time take action <br />to i~o~ a~d .~ell its general obligation bonds pursuant to the <br />Tax I~-~:~ ~ent Financing Act to finance the public costs <br />ident/.!i~c i'~ the Tax Increment Financing Plan. <br /> <br />The moi;~c~ ~:or the adoption of the foregoing resolution was duly <br />seco~.ded by Councilmember Sorteberg and upon vote being taken <br />there~,~ 'Ibc following voted in favor thereof: <br /> <br />and th~-- 7,:,l]owing voted against the same: <br /> <br />Resolution #86-119 <br /> <br />Page 3 of 4 <br /> <br /> <br />