City Council Resolution 1985-06RESOLUTION 1985 #b
A RESOLUTION REQUESTING THE COUNTY
AUDITOR TO CERTIFY THE ORIGINAL ASSESSED
VALUE OF THE REAL PROPERTY WITHIN THE
BOUNDARY OF THE MONTICELLO TAX INCREMENT
FINANCING REDEVELOPMENT DISTRICT
(CONSTRUCTION FIVE).
WHEREAS, the City Council of the City of Monticello has determined that
it is necessary and desirable and in the public interest to designate, establish,
develop, and administer a tax increment financing redevelopment district pursuant
to the provisions of Minnesota Statutes, Section 273.71 to 273.78 inclusive;
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE
CITY OF MONTICELLO, MINNESOTA that the Wright County Auditor is hereby
requested to certify the assessed value of all real property within the boundaries of
the tax increment redevelopment district as described in the attached tax
increment financing plan as of the date of the last equalized assessment, and each
year hereafter to certify the amount by which the assessed value has increased or
decreased from the original assessed value and also to certify the proportion which
any increase or decrease bears to the total assessed value for the real property in
said tax increment financing district for that year, and also to remit to the City of
Monticello each year hereafter, that proportion of all taxes paid that year on real
property in the district which the captured assessed value bears to the total
current assessed value, all pursuant to Minnesota Statutes, Section 273.76,
Subdivision 1 and 2.
Adopted this 25th day of March, 1985.
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Mayor
ATTEST:
Cit Clerk