HRA Resolution 1992-06HRA
RESOLUTION NO. 1992 -6
RESOLUTION APPROVING TAX INCRE1ViENT 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 -12
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. Recitals.
a) By Resolution No. 91 -1 dated May 1, 1991, the Authority approved the
adoption of the Tax Increment Financing Plan (the "TIF Plan ") for Tax Increment
Financing District No. 1 -12 (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 Minn. Stat . 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:
SNG44189
MN190 -38