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308303v2 SJR MU205-30 <br />1 <br /> <br />CITY OF MOUNDS VIEW <br />MOUNDS VIEW ECONOMIC DEVELOPMENT AUTHORITY <br />COUNTY OF RAMSEY <br />STATE OF MINNESOTA <br /> <br />RESOLUTION NO. 07-EDA-231 <br /> <br />JOINT CITY OF MOUNDS VIEW AND MOUNDS VIEW <br />ECONOMIC DEVELOPMENT AUTHORITY RESOLUTION <br />CONSENTING TO A SIXTY DAY EXTENSION FOR THE TIME <br />PERIOD TO REMOVE TWO BILLBOARDS <br /> <br /> <br /> WHEREAS, the City of Mounds View (“the City”), the Mounds View Economic <br />Development Authority (“EDA”), Clear Channel Outdoor, Inc. (“Clear Channel”) and Medtronic, <br />Inc. (“Medtronic”) have entered into agreements entitled the Acquisition and Relocation Agreement <br />(“the Agreement”) and the Amended and Restated Contract for Private Redevelopment (“the <br />Contract”) concerning the removal and possible relocation of four (4) billboards that are or were <br />located on property previously owned by the City and now owned by Medtronic (the “Property”); <br />and <br /> <br /> WHEREAS, pursuant to the Agreement and the Contract, two billboards were required to be <br />removed and potentially relocated by March 31, 2006, which has already occurred; and two <br />additional billboards are scheduled to be removed no later than March 31, 2007, and thereafter <br />potentially relocated; and <br /> <br /> WHEREAS, Medtronic and Clear Channel have requested that the City and EDA consent to <br />a sixty (60) day extension for the removal of the two (2) billboards required to be removed from the <br />Property by March 31, 2007, because Medtronic and Clear Channel are presently negotiating a final <br />resolution as to all billboard issues set forth in the Agreement and the Contract; and <br /> <br /> WHEREAS, within the requested sixty (60) day time period, Medtronic and Clear Channel <br />intend to provide the City and EDA with a “global settlement agreement” which hopes to bring a <br />final resolution to all billboard issues related to the Agreement and the Contract; and <br /> <br /> WHEREAS, the City and EDA desire to finalize all billboard issues related to the <br />Agreement and Contract; and <br /> <br /> WHEREAS, the City and EDA desire to consent to a sixty (60) day extension for the <br />removal of the two (2) billboards from the Property set for March 31, 2007, as referenced in the <br />Agreement and the Contract. <br /> <br /> NOW, THEREFORE, BE IT RESOLVED by the City Council ("Council") of the City of <br />Mounds View and the Board of Commissioners of the Mounds View Economic Development <br />Authority (“Commission”), as follows: <br />