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CITY OF MOUNDS VIEW <br />MOUNDS VIEW ECONOMIC DEVELOPMENT AUTHORITY <br />COUNTY OF RAMSEY <br />STATE OF MINNESOTA <br />RESOLUTION N0.07-EDA-234 and <br />RESOLUTION 7109 <br />30INT CITY OF MOUNDS VIEW AND MOUNDS VIEW <br />ECONOMIC DEVELOPMENT AUTHORITY RESOLUTION <br />CONSENTING TO AN ADDITIONAL TEN DAY EXTENSION <br />FOR THE TIME PERIOD TO REMOVE TWO BILLBOARDS <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 />WHEREAS, pursuant to the Agreement and tree 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 />WHEREAS, Medtronic and Clear Channel requested that the City and EDA consent to an <br />extension for the removal of the two (2) billboards required to be removed from the Property by <br />March 31, 2007, because Medtronic and Clear Channel are presently negotiating a final resolution <br />as to all billboard issues set forth in the Agreement and the Contract; and <br />WHEREAS, the EDA and the City approved Resolution 07-EDA-231 and Resolution 7048, <br />respectively, on March 26, 2007 which extended the deadline for removal by ninety (90) days, from <br />March 31, 2007 to June 29, 2007; and, <br />WHEREAS, on June 25, 2007, the EDA and the City determined that an additional ten (10) <br />days would be necessary to ensure all issues are resolved to all parties' satisfaction. <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 />1. The Council and the Authority hereby approve and consent to extending the <br />date for removal of the two billboards required to be removed from the <br />Property by June 29, 2007, for a period often days, until July 9, 2007. <br />308303v2 SJR MU205-30 <br />