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Member <br />1 1l�rtt t <br />introduced the following resolution and moved its adoption: <br />LINO LAKES ECONOMIC DEVELOPMENT AUTHORITY <br />RESOLUTION NO. 95-16 <br />RESOLUTION ADOPTING MODIFIED TAX INCREMENT FINANCING PLANS <br />FOR TAX INCREMENT FINANCING DISTRICT NOS. 1-1 AND 1-2 <br />BE IT RESOLVED by the Lino Lakes Economic Development Authorityas follows: <br />Section 1. Recitals. <br />1.01. The city council of the City of Lino Lakes (the "City") established Development <br />District No. 1 ("Development District") and Tax Increment Financing District No. 1-1 ("TIF <br />District No. 1-1") on January 26, 1987. <br />1.02. The City established Tax Increment Financing District No. 1-2 ("TIF District No. <br />1-2") on December 27, 1988. <br />1.03. The City established the Lino Lakes Economic Development Authority (the <br />"Authority") in 1990 and transferred authority for the Development District and TIF Districts No. <br />1-1 and 1-2 to the Authority. <br />1.04. In the past the Development District Program (the "Program") and the TIF Plans <br />have been modified to assist improvements within the Development District pursuant to <br />Minnesota Statutes, sections 469.174 through 469.179 (the "TIF Act") and sections 469.124 <br />through 469.134 (the "City Development District Act"). <br />1.05. It is proposed that the Plans for TIF District Nos. 1-1 and 1-2 again be modified in <br />order to authorize reimbursement to the City of past expenditures for infrastructure <br />improvements. <br />1.06. The Authority and the City have authorized preparation of modified TIF Plans which <br />are contained in documents entitled "Modified Tax Increment Financing Plan, Tax Increment <br />Financing District No. 1-1," and "Modified Tax Increment Financing Plan, Tax Increment <br />Financing District No. 1-2," dated December 18, 1995 and on file with the Authority. <br />