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07-26-2004
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07-26-2004
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Last modified
8/6/2018 1:45:18 PM
Creation date
8/6/2018 1:45:08 PM
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MV EDA
EDA Document Type
Council Packets
Date
7/26/2004
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<br /> 1664674v2 9 <br />in this Agreement, but shall, in any event and without regard to any fault on the part of the <br />Authority or the City, apply to any pecuniary loss or penalty (including interest thereon from the <br />date the loss is incurred or penalty is paid by the Authority or the City at a rate equal to the Prime <br />Rate) as a result of the Project causing the Tax Increment District to not qualify or cease to <br />qualify as a "redevelopment district" under Section 469.174, Subdivision 10, of the Act or to <br />violate limitations as to the use of Tax Increments as set forth in Section 469.176, Subdivision 4j. <br />(3) All covenants, stipulations, promises, agreements and obligations of the Authority <br />contained herein shall be deemed to be the covenants, stipulations, promises, agreements and <br />obligations of the Authority and not of any governing body member, officer, agent, servant or <br />employee of the Authority.
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