City Council Resolution 2018-102CITY OF MONTICELLO
WRIGHT COUNTY, MINNESOTA
RESOLUTION NO. 2018-102
RESOLUTION DECERTIFYING
TAX INCREMENT FINANCING DISTRICT NO. 1-20
WHEREAS, on June 24, 1996, the City of Monticello (the "City") established Tax
Increment Financing (Redevelopment) District No. 1-20 (the "District"); and
WHEREAS, the maximum duration limit for the District is twenty-five (25) years from
the date of receipt by the City of the first increment; and
WHEREAS, the month and year of the first receipt of tax increment for the District is
July 1999; and
WHEREAS, the City desires by this resolution to elect to decertify the District effective
December 31, 2018, by which all taxing jurisdictions will benefit from an increased tax base
effective for taxes payable in 2019; and
WHEREAS, the City Council acknowledges such action will be taken by Wright County
to decertify the District as a tax increment district and to no longer remit tax increment from the
District to the City after December 31, 2018.
that:
NOW THEREFORE, BE IT RESOLVED by the City Council of the City of Monticello
1. The City Finance Director is authorized and directed to provide Wright
County with documents related to decertification of the District, to submit the
Confirmation of Decertified TIF District form to the Office of the State
Auditor and take any other steps required for decertification by December 31,
2018.
2. The City Finance Director is authorized and directed to determine the amount
of excess tax increment, if any, in the account for the District and to return all
excess tax increment to Wright County for redistribution to other taxing
jurisdictions.
The motion for the adoption of the foregoing resolution was duly seconded by member
Davidson and upon vote being taken thereon, the following voted in favor thereof-
Davidson,
hereof
Davidson, Fair, Gabler, Hilgart, and Stumpf
and the following vote against the same: None
Whereupon said resolution was declared duly passed and adopted.
EXTRACT OF MINUTES OF A MEETING OF THE
CITY COUNCIL OF THE CITY OF
MONTICELLO, MINNESOTA
HELD: DECEMBER 10, 2018
Pursuant to due call and notice thereof, a regular meeting of the City Council of the City of
Monticello, Wright County, Minnesota, was duly held at the Monticello City Hall on the 10th day
of December, 2018 at 6:30 p.m.
The following members of the Council were present: Davidson, Fair, Gabler, Hilgart and Stumpf
And the following were absent: None
Member Gabler introduced the following resolution and moved its adoption:
2
STATE OF MINNESOTA )
) ss.
COUNTY OF WRIGHT )
I, the undersigned, being the duly qualified and acting City Clerk of the City of
Monticello, Minnesota, DO HEREBY CERTIFY that the attached resolution is a true and
correct copy of an extract of minutes of a meeting of the City Council of the City of
Monticello, Minnesota, duly called and held, as such minutes relate to the decertification
of Tax Increment Financing Redevelopment District No. 1-20.
,rt-
WITNESS my hand as such City Clerk of the City of Monticello this day of
✓ , 2018.
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Ci� Clerk