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4 1 P . <br />• ,:.:.v �3.41C•.�h .n .v t- a:n .. <br />EXTRACT OF MINUTES OF A MEETING <br />OF THE CITY COUNCIL <br />OF THE CITY OF LITTLE CANADA <br />HELD: November 22, 1995 <br />Pursuant to due call and notice thereof, a regular meeting <br />of the City Council of the City of Little Canada, Minnesota, was <br />duly called and held at the City Hall on the 22nd day of <br />,November, 1995, at o'clock P.M„ the following <br />Councilmembers were present: <br />The following Councilmembers were absent: <br />The following Resolution was offered by Councilmember <br />who duly moved for its adoption: <br />RESOLUTION TRANSFERRING JURISDICTION OVER <br />DEVELOPMENT PROGRAMS FOR DEVELOPMENT <br />DISTRICTS NOS. 2, 4 AND 5 AND ALL TAX INCREMENTS <br />DERIVED FROM TAX INCREMENT FINANCING DISTRICTS <br />NOS. 2 -1, 3 AND 5 TO ECONOMIC DEVELOPMENT AtTPHORITY <br />OF THE CITY OF LITTLE CANADA; AND AUTHORIZING <br />EXECUTION OF PLEDGE AGREEMENT <br />A. WHEREAS, the Economic Development Authority of the City <br />of Little Canada (the "Authority ") was duly established by <br />resolution adopted by the City Council for the City of Little <br />Canada, pursuant to the provisions of Minnesota Statutes, <br />Sections 469.090 to 469.108 (the "Act"); and <br />B. WHEREAS, the Authority was established for the purpose <br />of vesting in one public body all powers and responsibilities <br />necessary and desirable for the promotion of economic development <br />within the City of Little Canada, Minnesota (the "City "); and <br />C. WHEREAS, the City has heretofore adopted Development <br />Programs for Development Districts Nos. 2, 4 and 5 pursuant to <br />the provision of Minnesota Statutes, Sections 469.124 through <br />469.134; and <br />D. WHEREAS, its it necessary and desirable that the City, <br />pursuant to the provisions of Minnesota Statutes, Section <br />469.094, Subdivision 2, and by resolution adopted by the City <br />Council, transfer the control, authority and operation of the <br />Development Programs and all tax increments derived from Tax <br />304786.1 <br />Page 20 <br />Z 'd 860- 91009EE'ON /70 :7I'1s/ 90 :71 96lI'11(INd) 9799 EH Z19 9flVd'ls NVDNOY{ GNV SDOIma Yt08d <br />