HomeMy WebLinkAbout1996-027 CCR1
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its adoption:
Member Kristen Mann introduced the following resolution and moved
RESOLUTION NO. 96 -27
RESOLUTION AMENDING THE 1995 EARLE BROWN FARM TAX
INCREMENT DISTRICT FUND aUDGET FOR LEGAL FEES
WHEREAS, Section 7.08 of the City Charter provides the City Council with the
authority to increase a budget appropriation if the actual receipts exceed the estimates, but not to
exceed the actual receipts; and
WHEREAS, the owners of Earle Brown Commons apartment building filed for
bankruptcy and sought to revoke their minimum assessment agreement with the City; and
WHEREAS, the City retained the firm of Dorsey Whitney to represent the City
in this case; and
WHEREAS, Dorsey Whitney's legal fees for the case in 1995 have amounted
to $41,724.00; and
WHEREAS, Tax increment revenue for the district in 1995 has exceeded the
budget estimates by more than $41,724.00.
NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of
Brooklyn Center that the 1995 Earle Brown Farm Tax Increment District Fund Budget be
amended as follows:
1. Increase Estimated Revenues for Tax Increments by $41 ,724.00
2. Increase Appropriations for legal services by $41,724.00
February 12, 1996
Date Ma
ATTEST: JAC AN *AI AA
Clerk
The motion for the adoption of the foregoing resolution was duly seconded by member
Kathleen Carmody and upon vote being taken thereon, the following voted in favor
thereof: Myrna Kragness, Kristen Mann, Debra Hilstrom, and Kathleen Carmody;
and the following voted against the same: none,
whereupon said resolution was declared duly passed and adopted.