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<br />. <br /> <br />RESOLUTION NO. 03-EDA-172 <br /> <br />MOUNDS VIEW ECONOMIC DEVELOPMENT AUTHORITY <br />COUNTY OF RAMSEY <br />STATE OF MINNESOTA <br /> <br />RESOLUTION AUTHORIZING PAYMENT OF PAY-AS-YOU-GO DEVELOPMENT PAYMENTS TO <br />RED CENT MANAGEMENT, LLC; HEARTLAND-MOUNDS VIEW COMMON BOND; BRIDGES <br />LEASING COMPANY; AND KENMARK PARTNERSHIP,LLP. <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 />WHEREAS, the EDA has entered into pay-as-you-go development agreements on five <br />properties with the developers of those properties; and, <br /> <br />WHEREAS, second half payments for Pay 2002 regarding four of these agreements were <br />due on February 1st; and, <br /> <br />. <br /> <br />WHEREAS, payment of $7,617.13 to Red Cent Management, LLC (The Everest Group), for <br />the C.G. Hill project is now appropriate; and, <br /> <br />WHEREAS, payment of $13,429.88 to Red Cent Management, LLC (The Everest Group), <br />for the Building N project is now appropriate; and, <br /> <br />WHEREAS, payment of $18,397.18 to Heartland-Mounds View Common Bond for the <br />Silver Lake Pointe project is now appropriate; and, <br /> <br />WHEREAS, payment of $27,423.00 to 21st Century Bank on behalf of Bridges Leasing <br />Company for the Midwest I.V. project is now appropriate; and, <br /> <br />WHEREAS, payment of $8,118.71 to Kenmark Partnership, LLP for the Zep Manufacturing <br />project is now appropriate. <br /> <br />NOW THEREFORE BE IT RESOLVED, that the Mounds View Economic Development <br />Authority, that payments of $7,617.13 and $13,429.88 to Red Cent Management, LLC, $18,397.18 to <br />Heartland-Mounds View Common Bond, $27,423.00 to 21st Century Bank on behalf of Bridges <br />Leasing, and $8,118.71 to Kenmark Partnership under pay-as-you-go development agreements may <br />be made the week of March 10th and subsequently included on the March 24, 2003 Just and Correct <br />Claims List. <br /> <br />Adopted by the Board of Commissioners of the Mounds View Economic Development <br />Authority this 10th day of March 2003. ~ <br /> <br /> <br />~ Li ,__ '(jent <br /> <br />ATTEST: <br /> <br />,.---- <br /> <br />. . <br /> <br />,--_.' ("-/VV\-.:..--o c- (2-<_--,_.)).0 -'.,---, <br /> <br />James Ericson, Interim Executive Director <br /> <br />. <br />