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Resolution 8718
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Resolution 8718
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Last modified
6/25/2019 10:08:26 AM
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6/8/2017 2:18:30 PM
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MV City Council
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Resolutions
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2.03. Changes in Formula. The City understands and acknowledges that, as of the date the <br /> Certificates were sold,the City's share of debt service on the Certificates pursuant to the Formula is 15.819%. <br /> The City's contribution to the debt service on the Certificates, as shown on Exhibit A hereto, is$202,343.80. <br /> The City further understands and acknowledges that the precise contribution amounts of the City under the <br /> Formula may change over time, and the City may be obligated to pay an additional amount, or a reduced <br /> amount,of debt service on the Mounds View Certificate if the Formula changes accordingly. Any additional <br /> amount of debt service may be provided through the levy of ad valorem taxes,or through payments from the <br /> City's general fund. Any changes in debt service payments under the Mounds View Certificate that differ <br /> from the amount provided for in Exhibit A, or through the tax levy chart in Exhibit C, may be made <br /> administratively by the City,without further resolution of this Council. <br /> 2.04. Certificate as to Registration. The City Administrator is directed to file a certified copy of <br /> this Resolution with the Ramsey County Property Records and Revenue Office and to obtain the certificate <br /> required by Section 475.63 of the Act. <br /> (The remainder of this page is intentionally left blank) <br /> 3 <br />
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