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WHEREAS, March 26, 2000 is ten years from the approval of the tax increment <br />financing plan, which is the lesser; and <br />WHEREAS, the City desires by this resolution to cause the decertification due to <br />its expiration of the District after which all property taxes generated by property within <br />the District will be distributed in the same manner as all other property taxes beginning <br />March 26, 2000. <br />NOW, THEREFORE, BE IT RESOLVED by the Lino Lakes Economic <br />Development Authority as follows: <br />1. It is hereby found and determined by the Authority that the District is required <br />to be decertified by reason of its statutory expiration. <br />2. The Authority asks the City to join with it in requesting that Anoka County <br />decertify TIF District No. 1-4, effective March 26, 2000. <br />3. The Authority authorizes the expenditure of the tax increments remaining in <br />the District's fund in accordance with the modified Plan. <br />4. The Authority authorizes and directs City staff, after all authorized <br />expenditures and obligations of the District have been paid, to return to the <br />Anoka County Auditor, in accordance with M.S. 469.176, Subd. 2(4), all <br />remaining increments as excess increments. <br />5. The Authority authorizes and directs City staff and consultants to take any and <br />all other actions which may be necessary to accomplish the intent of this <br />resolution. <br />Dated: January 24, 2000 <br />ATTEST: <br />