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CITY OF LINO LAKES <br />RESOLUTION NO. 14-1 21 <br />RESOLUTION APPROVING SETTLEMENT AGREEMENT <br />WITH FIRST RESOURCE BANK <br />I35E/CSAH 14 INTERCHANGE IMPROVEMENT PROJECT <br />WHEREAS, on or about October 24, 2011, the City approved and levied a special assessment <br />to finance its portion of the I35E / CSAH 14 interchange improvement project; and <br />WHEREAS, the City assessed a total of $772,650.00 (the "Special Assessment") against five <br />parcels located in Anoka County (the "County") subsequently acquired by the Bank, as a <br />successor in interest to the original owner, East Lino Lakes, LLC, with those parcels identified <br />as follows (the "Assessed Properties"): <br />PIN 13-31-22-33-0001 <br />PIN 13-31-22-31-0001 <br />PIN 13-31-22-34-0001 <br />PIN 13-31-22-32-0001 <br />PIN 13-31-22-31-0002; and <br />WHEREAS, the Bank, or its predecessor, appealed the Special Assessment in Anoka County <br />District Court, File No. 02 -CV -11-7766; and <br />WHEREAS, the Parties wish to resolve the pending appeal in order to avoid additional <br />litigation costs. <br />NOW, THEREFORE BE IT RESOLVED by The City Council of The City of Lino <br />Lakes that the settlement agreement attached hereto as Exhibit A is hereby approved and the <br />Mayor and Clerk are authorized to execute the agreement on behalf of the City. <br />Adopted by the Council of the City of Lino Lakes this 13th day of October, 2014. <br />The motion for the adoption of the foregoing resolution was introduced by Council Member <br />Roeser and was duly seconded by Council Member Rafferty and upon <br />vote being taken thereon, the following voted in favor thereof <br />Roeser, Rafferty, Kusterman, Stoe , Reinee <br />The following voted against same: <br />none <br />ATTEST: <br />nne Bartell, Ci Cl� <br />Jeff Reinert, ay +r <br />