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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. --" Mayor ATTEST: Cit Clerk