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RESOLUTION NO. 02-EDA-161 MOUNDS VIEW ECONOMIC DEVELOPMENT AUTHORITY COUNTY OF RAMSEY STATE OF MINNESOTA RESOLUTION APPROVING AND AUTHORIZING THE EXPENDITURE OF TAX INCREMENT FUNDS FOR THE INSTALLATION OF TRAILWAY LIGHTING IMPROVEMENTS WITHIN THE HIGHWAY 10 CORRIDOR IT IS HEREBY RESOLVED by the Board of Commissioners (the ‘Board’) of the Mounds View Economic Development Authority (the ‘Authority’) as follows: Section 1. Recitals. 1.01 The Authority has the powers provided in Minnesota Statutes, Sections 469.124 to 469.134 and 469.090 to 469.108 (collectively, the “Act”). 1.02 Pursuant to and in furtherance of the objectives of the Act, the Authority has undertaken a program to promote development and redevelopment of certain land within the City of Mounds View and in this connection is engaged in carrying out the Mounds View Economic Development Project (the “Project”) within the City. 1.03 There has been approved pursuant to the Act a Project Plan for the Project. 1.04 The redevelopment of property within the Project is a stated objective of the Project Plan. 1.05 In order to achieve the objectives of the Project Plan, the Authority has determined to provide substantial aid and assistance through the financing of certain public costs of development. 1.06 It has been proposed that the Authority approve and authorize the expenditure of funds to install trailway and streetlight improvements within the Highway 10 corridor to enhance and improve appearances and promote improved pedestrian safety. Section 2. Resolved. 2.01 The Board hereby determines that the Authority’s expenditure of tax increment funds would be in furtherance of the Project Plan and hereby approves and authorizes said action. Resolution 02-EDA-161