City Council Resolution 1984-31RESOLUTION 1984 #31
A RESOLUTION REQUESTING THE COUNTY
AUDITOR TO CERTIFY THE ORIGINAL ASSESSED
VALUE OF THE REAL PROPERTY WITHIN THE
BOUNDARY OF THE MONTICELLO HOUSING AND
REDEVELOPMENT AUTHORITY TAX INCREMENT
FINANCING ECONOMIC DEVELOPMENT DLSTRICT
#5.
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 economic development district
pursuant to the provisions of Minnesota Statutes, Section 273.71 to 273.78
inclusive;
NOW, THEREFORE, BE 1T 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 economic development district #5 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, excluding the
capture of assessed value payable in 1985, which shall be "passed through" to the
taxinglurtsdictions and a]so to remit to the Monticello Housing and Redpvptnnmpnt
Authority, beginning in July, 1986, that pro ortion 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.
Subdivtston 1 and 2.
Adopted this 23rdday of July, 1984.
~~,
Mayor
ATTEST:
Oita--
Ci yClerk