HRA Resolution 1992-05HRA RESOLUTION 1992 - s
RESOLUTION APPROVING TAX INCREMENT AGREEMENT
BY AND BETWEEN THE CITY OF MONTICELLO, MINNESOTA
AND THE HOUSING AND REDEVELOPMENT AUTHORITY
IN AND FOR THE CITY OF MONTICELLO RELATING
TO TAX INCREMENT DISTRICT NO. 1 -14
BE IT RESOLVED by the Board of Commissioners (the 'Board ") of the Housing and
Redevelopment Authority in and for the City of Monticello (the "Authority ") as
follows:
1. Recital q _
a) By Resolution No. 92 -2 dated July 6, 1992, the Authority approved the
adoption of the Tax Increment Financing Plan (the "TIF Plan ") for Tax
Increment Financing District No. 1 -14 (the "TIF District ") within
Redevelopment Project No. 1 (the "Project ").
b) Pursuant to the TIF Plan, the Authority has requested the City of
Monticello (the "City ") to issue certain tax increment bonds (the
"Bonds ") in order to finance the public development costs of the Project.
c) The Authority has reviewed the form of a Tax Increment Agreement
between the City and the Authority (the "TIF Agreement ") in connection
with the Bonds.
2. TIF Agreement Approved. Pursuant to Minnesota Statutes, Section 469.178,
Subd. 2, the Board approves the TIF Agreement and authorizes and directs the
proper Authority officials to execute the TIF Agreement on behalf of the
Authority.
Adopted by the Board of Commissioners of the Housing and Redevelopment Authority
in and for the City of Monticello this 2 day of December , 1992.
ATTEST:
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