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• <br />• <br />RESOLUTION 03-191 <br />TERMINATING TAX INCREMENT FINANCING DISTRICT 1-6 AND <br />DIRECTING DECERTIFICATION THEREOF BY THE COUNTY <br />AUDITOR <br />WHEREAS, by adoption of a resolution on August 11, 1994, the City Council of <br />the City of Lino Lakes, Minnesota (the "City") has heretofore created Tax Increment <br />Financing District 1-6 (the "District"), located within Development District No. 1, and has <br />approved a Tax Increment Financing Plan (the "TIF Plan"), for the District to provide <br />assistance to the UDOR; and <br />WHEREAS, the County Auditor of Anoka County has certified the original net tax <br />capacity and the original local tax rate of the District pursuant to the provisions of <br />Minnesota Statutes, Section 469.177; and <br />WHEREAS, as of the date hereof, all of the projects have been completed, all <br />obligations to which tax increment from the District has been pledged have been paid in <br />full or defeased, and the City has determined that it is in the best interests of the City to <br />terminate and decertify the District. <br />NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of Lino <br />Lakes, Minnesota that: <br />(1) Tax Increment Financing District 1-6 is hereby terminated as of November 15, <br />2003. <br />(2) The Clerk -Administrator shall provide a certified copy of this resolution to the <br />County Auditor of Anoka County so that the District may be decertified on the <br />books and records of the County Auditor with no further tax increment from <br />the District being remitted to the City. <br />Adopted by the Lino Lakes City Council the 27th day of October 2003. <br />Ann Blai ,City Clerk <br />