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RESOLUTION NO. 06-EDA-222 <br />MOUNDS VIEW ECONOMIC DEVELOPMENT AUTHORITY <br />COUNTY OF RAMSEY <br />STATE OF MINNESOTA <br />RESOLUTION AUTHORIZING PAYMENT OF A PAY -AS- YOU -GO DEVELOPER PAYMENT TO <br />HEARTLAND MOUNDS VIEW COMMON BOND <br />It is hereby resolved by the Board of Commissioners (the "Board of the Mounds View <br />Economic Development Authority (the "Authority as follows: <br />WHEREAS, the EDA has entered into pay -as- you -go development agreements on three <br />properties with the developers of those properties; and, <br />WHEREAS, first half payment for Pay 2006 regarding one of these agreements is due on <br />August 1st; and, <br />WHEREAS, payment of $20,373.34 to Heartland- Mounds View Common Bond for the <br />Silver Lake Pointe project is now appropriate. <br />NOW THEREFORE BE IT RESOLVED, that the Mounds View Economic Development <br />Authority does hereby approve payments of $20,373.34 to Heartland- Mounds View Common Bond. <br />Adopted by the Board of Commissioners of the Mounds ,Jiew Economic Development <br />Authority this 24 day of July, 2006. <br />ATTEST: <br />(seal) <br />Rol/ Marty, President <br />/i/7 („g <br />Kurt Ulrich, Executive Director <br />