Resolution No. 06-01 EDA - Laserfiche WebLink

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11. There is attached hereto as Exhibit "A" a list of municipal development districts created by the Council pursuant to Minnesota Statutes Sections 460.124 through 469.134 and tax increment districts created by the Council pursuant to Minnesota Statutes Sections 469.174 through 469.179, or its predecessors, the control, authority and operation of which are hereby transferred to the EDA. The EDA shall accept the transfer of these projects and districts and shall pledge to perform the terms, conditions and covenants of all agreements outstanding with respect thereto. 12. There is attached hereto as Exhibit "B" a list of certain real estate located within the above-described districts which the Council conveys to the EDA by this resolution and by separate deed. Such property shall be accepted and used by the EDA in accordance with the EDA Act. 13. There is attached hereto as Exhibit "C" a list of litigation currently pending with respect to the districts transferred to the EDA pursuant to paragraph 11 and property transferred to the EDA pursuant to paragraph 12. 14. There is attached hereto as Exhibit "D" a list of funds and accounts currently existing in the City which are hereby redesignated in the name of the EDA and transferred to the ownership and control of the EDA to be used in accordance with prior agreements and covenants of the Council and the EDA Act. 15. There is attached hereto as Exhibit "E" a list of agreements respecting the transferred districts and projects, the City's interests in which are hereby assigned to the EDA and the terms, conditions and covenants of which shall be performed by the EDA. 16. City officials and staff are hereby authorized and directed to execute such deeds, assignments, requisitions, directives and agreements as may be necessary and appropriate to carry out the terms, conditions and intension - of this enabling resolution. 17. The EDA may request the City to levy a tax up to the maximum tax for.the benefit of the EDA as specifically set forth in Section 469.107 of the EDA Act. 18. Nothing shall prevent the City from modifying this enabling resolution to impose limits on the powers of the EDA or provide for other matters as authorized in the EDA Act or other law. 19. This resolution shall become effective when the EDA holds its first meeting and accepts the transfers herein described. 20. Notwithstanding any provision herein to the contrary, the authority granted to the EDA pursuant to paragraph 2 above shall not be exercised until the EDA has established an advisory board which shall be comprised of all of the members of the City's Economic Development Commission. 3