HomeMy WebLinkAbout2004-015 EDAR1
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adoption:
Member Kathleen
Carmody
introduced the following resolution and moved its
EDA RESOLUTION NO. 2004 -15
RESOLUTION AUTHORIZING EXECUTION OF TAX INCREMENT
PLEDGE AGREEMENT
A. WHEREAS, the Brooklyn Center Economic Development Authority,
Minnesota "Authority has heretofore established its Tax Increment Financing District No. 3
(the "Tax Increment Financing District within its Housing Development and Redevelopment
Project No. 1; and
B. WHEREAS, the City Council of the City of Brooklyn Center has adopted
a resolution awarding the sale of the City's Taxable General Obligation Tax Increment Bonds,
Series 2004D (the "Bonds"), to provide funds to finance certain public redevelopment costs
within the Tax Increment Financing District (the "Project
C. WHEREAS, it is necessary and desirable that the City and the Authority
enter into a tax increment pledge agreement pursuant to which the Tax Increments derived from
the Tax Increment Financing District will be pledged to the Bonds.
NOW, THEREFORE, BE IT RESOLVED by the Board of Commissioners of the
Brooklyn Center Economic Development Authority, as follows:
1. Authorization to Execute. The Tax Increment Pledge Agreement, a form
of which agreement is now on file in the office of the Authority, is hereby approved in
substantially the form submitted to the Authority. The Chair and Secretary are authorized and
directed to execute the same on behalf of the Authority.
2. Filing. The Secretary is directed to file a fully executed copy of the Tax
Increment Pledge Agreement with the County Auditor of Hennepin County pursuant to
Minnesota Statutes, Section 469.178, Subdivision 2.
November 8, 2004
Date
The motion for the adoption of the foregoing resolution was duly seconded by commissioner
Bob Peppe
and upon vote being taken thereon, the following voted in favor thereof:
Myrna Kragness, Kathleen Carmody, Kay Lasman, Diane Niesen, and Bob Peppe;
and the following voted against the same: none;
whereupon said resolution was declared duly passed and adopted.
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RESOLUTION NO. 2004 -15
STATE OF MINNESOTA
COUNTY OF HENNEPIN
BROOKLYN CENTER ECONOMIC DEVELOPMENT AUTHORITY
I, the undersigned, being the duly qualified and acting Secretary of the Brooklyn
Center Economic Development Authority, DO HEREBY CERTIFY that I have carefully
compared the attached and foregoing extract of minutes of a meeting of the Board of
Commissioners of said Authority held on the date indicated therein with the original thereof on
file in my office, and the same is a full, true and complete transcript therefrom insofar as the
same relates to a resolution authorizing execution of a Tax Increment Pledge Agreement.
WITNESS my hand as Secretary this day of 2004.
Secretary