HomeMy WebLinkAbout1995-022 EDAR1
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Commissioner Kristen Mann introduced the following resolution
and moved its adoption:
and
EDA RESOLUTION NO 95 -22
RESOLUTION DECLARING THE INTENT OF THE ECONOMIC DEVELOPMENT
AUTHORITY IN AND FOR THE CITY OF BROOKLYN CENTER TO ISSUE
TAXABLE OR TAX EXEMPT REIMBURSEMENT BONDS FOR THE ACQUISITION
OF CERTAIN PROPERTIES WITHIN TAX INCREMENT DISTRICT #3
WHEREAS, the EDA intends to acquire Brookdale Motel site and
WHEREAS, the EDA intends to acquire Howard Atkins property;
WHEREAS, the EDA reasonably expects to expend moneys from the
Economic Development Authority Fund, on a temporary basis to pay
the expenditures described in this resolution; and
WHEREAS, the EDA reasonably expects to reimburse itself for
such expenditures from the proceeds of taxable or tax exempt bonds,
the debt service for which is expected to be paid from property
taxes, special assessments, or utility fees.
NOW, THEREFORE, BE IT RESOLVED by the Economic Development
Authority in and for the City of Brooklyn Center, Minnesota, that:
This resolution is intended to constitute official intent to
issue taxable or tax exempt reimbursement bonds for purposes
of proposed Treasury Regulation 1.103 -17 and any successor
law, regulation or ruling. This resolution shall be modified
to the extent required or permitted by Treasury Regulation
1.103 -17 as finally adopted, or any successor law, regulation
or ruling.
July 24, 1995
Date
U President U
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, Kristen Mann, Debra Hilstrom, and Kathleen Carmody;
and the following voted against the same: none,
whereupon said resolution was declared duly passed and adopted.