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. . . EXHIBIT 1. SETTLEMENT AGREEMENT This Settlement Agreement is effective . 2003, and is entered into by and among the Minnesota Attomey General and the City of Mounds View. \VHEREAS, on July 18.2001. the Office of the State Auditor (hereinafter .'OSA ") sent an initial notice of noncompliance pursuant to Minn. Stat. S 469.1771, subd. 1 (c) to the Mounds Vievv' City Council. making two findings of noncompliance \",ith respect to the City of Mounds View Tax Increment Financing (hereinaHer "TIF") District No.1. one finding of noncompliance with respect to TIF District No.2 and one finding of noncompliance vv'ith respect to notices to the school board and county board of fiscal and economic impact estimates for TIF Districts Nos. 1. 2 and 3 and making an additional comment noting concems regarding reporting of certain engineering costs in connection with TJF District Nos. 1 and 3: \VHEREAS, on September 17. 2001. the City of Mounds View submitted a response to the OSA disputing the OSA' s findings and comments; \VHEREAS, on 1\ovember 27.2001. the OSA sent its final notice of noncompliance to the City of Mounds View reiterating its findings; \VHEREAS, on l\'ovember 27.2001, the OSA referred that finding to the Ramsey County Attomey. pursuant to Minn. Stat. S 469.1771. subd. 1 (b): \VHEREAS, the Ramsey County Attorney's Office did not commence an action regarding this matter w'ithin one year of the date ofreferra1: \VHEREAS, on December 3.2002. the OSA rderred this matter to the Oflice of the Attorney Gencral (hereinafter "OAGU). pursuant to Minn. Stat. S 469.1771. subd. l(d): \VHEREAS, pursuant to Minn. Stat. * 469.1771. subd. 2b(a). the OAG is required to revie\\' the materials submitted by the OSA and may initiate a petition in tax court to take action against the authority of the municipality to exercise tax incremcnt financing powers: \VHEREAS, pursuant to Minn. Stat. 9469.1771, subd. 2b(b). before 1iling a petition to suspend TIF authority. the Attomey General is required to attempt to resolve the matter using appropriate alternative dispute resolution procedures: and WHEREAS, the OAG has conferred \vith rcpresentatives ofthe City of Mounds View and thc OSA in order to resolve the matter w'ithout legal action. NOW THEREFORE, based upon a review of the matter and discussions among the partics. it is agreed as follows; I. The City of Mounds View agrees it will follow the requirements set forth in Minncsota statutes relating to Tax Incrcmcnt Financing and \vill include in all future TIF plans a statemcnt as to the development program and including with reasonable specificity a description of the property within the District. if any. which the City intends to acquire.