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<br />. <br /> <br />. <br /> <br />. <br /> <br />RESOLUTION NO. Ot-EDA-t49 <br /> <br />MOUNDS VIEW ECONOMIC DEVELOPMENT AUTHORITY <br />COUNTY OF RAMSEY <br />ST ATE OF MINNESOTA <br /> <br />RESOLUTION APPROVING AND AUTHORIZING EXPENDITURE OF TIF FUNDS FOR THE <br />EDGEWOOD MIDDLE SCHOOL REGIONAL POND <br /> <br />It is hereby resolved by the Board of Commissioners (the "Board") of the Mounds View <br />Economic Development Authority (the "Authority") as follows: <br /> <br />Section 1. Recitals. <br /> <br />1.10 The Authority has the powers provided in Minnesota Statutes, Sections 469.124 <br />to 469.134 and 469.090 to 469.108 (collectively, the "Act"). <br /> <br />1.02 Pursuant to and in fUltherance of the objectives of the Act, the Authority has <br />undertaken a program to promote development and redevelopment of certain land within the <br />City of Mounds View and in this connection is engaged in calTying out the Mounds View <br />Economic Development Project (the "Project") within the City. <br /> <br />1.03 There has been approved pursuant to the Act a Project Plan for the Project. <br /> <br />1.04 The finance of public improvements associated with redevelopment of property <br />within the Project is a stated objective of the Project Plan. <br /> <br />1.05 In order to achieve the objectives of the Project Plan, the Authority has <br />determined to provide substantial aid and assistance through the financing of certain public <br />costs of development. <br /> <br />1.06 It has been proposed that the Authority construct public improvements <br />consisting of a stoml water retention pond to facilitate the redevelopment of the Mermaid <br />property. <br /> <br />Section 2. Resolved. <br /> <br />2.01 The Board hereby detemlines that the Authority's completion of the <br />aforementioned public improvements is in fUl1herance of the Project Plan and hereby approves <br />and authorizes said actions. <br /> <br />2.02 Upon awarding the bid for the public improvements, the officers and <br />employees of the Authority (including members of the City Staff, acting in theIr capacIty as <br />staff to the Authority as well) are hereby authorized and directed to take or cause to be taken <br />such actions as may be appropriate or necessary on behalf of the Authority to implement the <br />public improvements. <br /> <br />2.03 That the Board of the Authority hereby determines that construction of the <br />public improvements will help realize the public purposes of the Act and are in furtherance of <br />the Project Plan and authorizes the President and Executive Director to appropriate a <br />