City Council Resolution 1984-15RESOLUTION 1984 #15
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 DISTRICT
#4.
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 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 economic development district #4 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
taxing jurisdictions and also to remit to the Monticello Housing and Redevelopment
Authority, beginning in July, 1986, that proportion of all taxes paid that veer 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 23rd day of April, 1984.
~~-
~~
Mayor
ATTEST:
9*~«---
Ci yClerk