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WHEREAS, March 26, 2000 is ten years from the approval of the tax increment <br />financing plan, which is the lesser; and <br />WHEREAS, the City desires by this resolution to cause the decertification due to <br />its expiration of the District after which all property taxes generated by property within <br />the District will be distributed in the same manner as all other property taxes beginning <br />March 26, 2000. <br />NOW, THEREFORE, BE IT RESOLVED by the Lino Lakes City Council as <br />follows: <br />1. It is hereby found and determined by the Authority that the District is required <br />to be decertified by reason of its statutory expiration. <br />2. The City joins the Authority in requesting that Anoka County decertify TIF <br />District No. 1-4, effective March 26, 2000. <br />3. The Authority authorizes the expenditure of the tax increments remaining in <br />the District's fund in accordance with the modified Plan. <br />4. The City joins the Authority in authorizing and directing City staff, after all <br />authorized expenditures and obligations of the District have been paid, to <br />return to the Anoka County Auditor, in accordance with M.S. 469.176, Subd. <br />2(4), all remaining increments as excess increments. <br />5. The City joins the Authority in authorizing and directing City staff and <br />consultants to take any and all other actions which may be necessary to <br />accomplish the intent of this resolution. <br />Dated: January 24, 2000 <br />ATTEST: <br />