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Section 2. Authority Approval. <br />2.01. The Authority finds that the objectives of the Authority and the City of encouraging <br />development and redevelopment within Tax Increment Financing Districts No. 1-1 and 1-2 will be <br />advanced by adoption of the modified Plans. <br />2.02. The modified Plans are hereby adopted by the Authority. <br />Section 3. Further Proceedings. <br />3.01. It is noted that copies of the modified Plans have been transmitted to the board of <br />Independent School District No. 12 and the board of commissioners of Anoka County for review <br />and comment and that said public bodies have been notified of the hearing to be held on the <br />modified Plans by the City. <br />3.02. The Authority requests that the City hold a public hearing on the modified Plans <br />pursuant to Minnesota Statutes, section 469.175, subd. 4, as soon hereafter as is practicable and <br />recommends that the modified Plan be approved by the City. <br />3.03. Upon approval of the modified Plans by the City, the Authority's executive director <br />is authorized and directed to file copies of the modified Plans with the Minnesota commissioner of <br />revenue. <br />Adopted by the Lino Lakes Economic Development Authority, Lino Lakes, Minnesota <br />this 18th day of December , 1995. <br />-7 <br />Vernon F. Reinert, President <br />ATTEST: <br />Randall Schumacher, Executive Director <br />The motion for the adoption of the foregoing resolution was duly seconded by member <br />Neal and upon vote being taken thereon, the following voted in favor thereof: <br />Reinert, Kuether, Neal, Bergeson, Elliott <br />and the following voted against same: <br />Whereupon said resolution was declared duly passed and adopted. <br />