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<br />. <br /> <br />. <br /> <br />. <br /> <br />RESOLUTION NO. 94-EDA4 <br />PAGE TWO OF TWO <br /> <br />2. The Board hereby determines that the Authority's execution and <br />performance of the Development Agreement would be in furtherance of the Project <br />plan and hereby approves the Development Agreement substantially in the form <br />presented to the Board and hereby authorizes the officers of the Authority in their <br />discretion and at such time, if any, as they may deem appropriate to execute the <br />same on behalf of the Authority, with such additions and modifications as those <br />officers may deem desirable or necessary, as evidenced by their execution thereof. <br /> <br />3. Upon execution and delivery of the Development Agreement, the officers <br />and employees of the Authority (including members of the City staff, acting in their <br />capacity as staff to the Authority as well) are hereby authorized and directed to take <br />or cause to be taken such actions as may be appropriate or necessary on behalf of <br />the Authority to implement the Development Agreement, including without limitation <br />issuance of the EDA Note and execution of the Certificate of Completion under the <br />Development Agreement. <br /> <br />4. . Approval of the Development Agreement is contingent upon the <br />successful resolution with the City of the Park Dedication fee payment and payment <br />amounts. <br /> <br />5. The Board hereby determines that the execution and performance of the <br />Development Agreement will help realize the public purposes of the Act and are in <br />furtherance of the Project Plan. <br /> <br />Adopted by the Board of Commissioners of the Mounds View Economic <br />Development Authority on May 23, 1994. <br /> <br />ATTEST: <br /> <br /> <br />(SEAL) <br />