HomeMy WebLinkAbout1996-030 EDARCommissioner Kathleen Carmody introduced the following resolution
and moved its adoption:
EDA RESOLUTION NO. 95 -30
RESOLUTION AUTHORIZING EXECUTION OF A
TAX INCREMENT PLEDGE AGREEMENT WITH THE
CITY OF BROOKLYN CENTER RELATING TO $4,560,000 TAXABLE GENERAL
OBLIGATION TAX INCREMENT BONDS, SERIES 1995A
BE IT RESOLVED by the Board. of Commissioners (the "Board of The
Economic Development Authority in and for the City of Brooklyn. Center, Minnesota
(the "Authority as follows:
1. The President and Executive Director of the Authority are hereby
authorized to execute and deliver a Tax Increment Pledge Agreement with the City
of Brooklyn Center, Minnesota (the "City substantially in the form attached hereto
as Exhibit A, providing for the pledge of tax increment for the payment of the
principal of, premium, if any, and interest on, the City of Brooklyn Center,
Minnesota $4,560,000 Taxable General Obligation Tax Increment Bonds, Series
1995A.
2. This resolution shall be effective as of the date hereof.
Adopted this 10thday of October
October 10, 1995
Date
1995.
The motion for the adoption of the foregoing resolution was duly seconded by commissioner
Debra Hilstrom and upon vote being taken thereon, the following voted
in favor thereof: Myrna Kragness, Debra Hilstrom, and Kathleen Carmody;
and the following voted against the same: none,
whereupon said resolution was declared duly passed and adopted.