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<br />. <br /> <br />. <br /> <br />. <br /> <br />RESOLUTION NO. 4533 <br /> <br />CITY OF MOUNDS VIEW <br />COUNTY OF RAMSEY <br />STATE OF MINNESOTA <br /> <br />RESOLUTION TRANSFERRING TO THE MOUNDS VIEW EDA THE CONTROL, AUTHORITY, <br />AND OPERATION OF THE CITY'S DEVELOPMENT DISTRICTS AND PROGRAMS <br />AND THE TAX INCREMENT FINANCING DISTRICTS THEREIN <br /> <br />IT IS HEREBY RESOLVED by the City Council (the "Council") of the City <br />of Mounds View, Minnesota (the "City"), as follows: <br /> <br />1. Recitals. <br /> <br />(a) On March 28, 1994, the Council adopted a certain "enabling <br />resolution" establishing the Mounds View Economic Development Authority <br />(the "EDA") pursuant to Minnesota Statutes, Sections 469.090 through <br />469.108 <br /> <br />(b) The City has heretofore established its Development District <br />Nos. 1, 2, and 3, adopted the Development Programs therefor, and <br />established certain Tax Increment Financing Act, presently codified in <br />Minnesota Statutes, Sections 469.124 through 469.134 and 469.174 <br />through 469.179, respectively. <br /> <br />(c) Pursuant to Minnesota Statutes, Section 469.094, Subdivision <br />2, the City may, by resolution of the council, transfer the control, <br />authority, and operation of the Development Project to the EDA, and <br />the Council hereby finds that it would be in the best interests of the <br />development and redevelopment efforts of the City to do so. <br /> <br />2. Proiect Transfer. Subject to the acceptance thereof by the EDA, <br />pursuant to Minnesota Statutes, Section 469.094, Subdivision 2, the <br />City hereby transfers the control, authority, and operation of the <br />Development Project to the EDA from the City. Upon its acceptance of <br />such transfer, the EDA may exercise all of the powers that the City <br />could exercise with respect to the Development project. In accepting <br />such transfer, the EDA shall covenant and pledge to perform the terms, <br />conditions, and covenants of all bond indentures and other agreements- <br />executed for the security of any bonds issued and other activities <br />undertaken with respect to the Development Project. <br /> <br />Duly adopted by the City Council of the City of Mounds <br />View, Minnesota on Marc 28, 1994. <br /> <br />ATTEST: <br /> <br /> <br />( SEAL) <br />