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<br />. <br /> <br />. <br /> <br />. <br /> <br />RESOLUTION NO. 05-EDA-202 <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 DEVELOPER 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 six <br />properties with the developers of those properties; and, <br /> <br />WHEREAS, second half payments for Pay 2004 regarding four of these agreements are <br />due on February 1st; and, <br /> <br />WHEREAS, payment of $24,232.96 to Red Cent Management, LLC (The Everest Group), <br />for the Building N project is now appropriate; and, <br /> <br />WHEREAS, payment of $30,680.74 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 $8,123.39 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 does hereby approve payments of $24,232.96 to Red Cent Management, LLC, $30,680.74 <br />to Heartland-Mounds View Common Bond, $27,423.00 to 21st Century Bank on behalf of Bridges <br />Leasing, and $8,123.39 to Kenmark Partnership under pay-as-you-go development agreements. <br /> <br />Adopted by the Board of Commissioners of the Mounds ~iew Economic Development <br />Authority this 24th day of January, 2005. d~~ ~ <br /> <br /> <br />Rob Marty, President .....\ <br /> <br /> <br />/~. ~ ~Q <br /> <br />Kurt Ulrich, Executive irector <br /> <br />ATTEST: <br /> <br />(seal) <br />