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which department shall have the responsibility for administering the <br /> finances of the EDA as it does the finances of the City; provided that the <br /> Administration may require reasonable reimbursement by the EDA for costs <br /> associated with the provision of such services by the finance department. <br /> 11. There is attached hereto as Exhibit "A" a list of municipal development <br /> districts created by the Council pursuant to Minnesota Statutes Sections <br /> 460.124 through 469.134 and tax increment districts created by the Council <br /> pursuant to Minnesota Statutes Sections 469.174 through 469.179, or its <br /> predecessors, the control, authority and operation of which are hereby <br /> transferred to the EDA. The EDA shall accept the transfer of these <br /> projects and districts and shall pledge to perform the terms, conditions and <br /> covenants of all agreements outstanding with respect thereto. <br /> 12. With respect to the projects and districts transferred to the EDA from the <br /> City, there is no litigation involving the City, no agreements to which the <br /> City is a party nor real or personal property owned by the City. <br /> 13. The City shall appropriate and transfer to the EDA such funds as it deems <br /> necessary from time to time to ensure that the EDA has adequate funds to <br /> carry out its activities. <br /> 14. City officials and staff are hereby authorized and directed to execute such <br /> deeds, assignments, requisitions, directives and agreements as may be <br /> necessary and appropriate to carry out the terms, conditions and intensions <br /> of this enabling resolution. <br /> 15. The EDA may request the City to levy a tax up to the maximum tax for the <br /> benefit of the EDA as specifically set forth in Section 469.107 of the EDA <br /> Act. <br /> 16. Nothing shall prevent the City from modifying this enabling resolution to <br /> impose limits on the powers of the EDA or provide for other matters as <br /> authorized in the EDA Act or other law. <br /> 17. This resolution shall become effective when the EDA holds its first meeting <br /> and accepts the transfers herein described. <br /> 18. Notwithstanding any provision herein to the contrary, the authority granted <br /> to the EDA pursuant to paragraph 2 above shall not be exercised until the <br /> EDA has established an advisory board which shall be comprised of all of the <br /> members of the City's Economic Development Commission. <br /> 3 <br />