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MOUNDS VIEW ECONOMIC DEVELOPMENT AUTHORITY <br />RESOLUTION NO. 94-EDAI <br />COUNTY OF RAMSEY <br />STATE OF MINNESOTA <br />RESOLUTION ORGANIZING THE MOUNDS VIEW ECONOMIC DEVELOPMENT AUTHORITY <br />AND ACCEPTING THE TRANSFER OF CERTAIN PROJECTS OF THE CITY, INCLUDING THE <br />TAX INCREMENT FINANCING DISTRICTS THEREIN <br />IT IS HEREBY RESOLVED by the Board of Commissioners (the "Board) of <br />the Mounds View Economic Development Authority (the "EDA") as follows: <br />1. Recitals. <br />(a) On March 28, 1994, the City of Mounds view, Minnesota (the <br />"City"), acting through its City Council, adopted a certain <br />enabling resolution establishing the EDA pursuant to Minnesota <br />Statutes, Sections 469.090 through 469.108. <br />(b) The City has heretofore established its Development District <br />Nos. 1, 2, and 3 adopted the Development Programs therefor, and <br />established certain Tax Increment Financing Act, presently <br />codified in Minnesota Statutes, Sections 469.134 and 469.174 <br />through 469.179, respectively. <br />(c) Pursuant to Minnesota Statutes, Sections 469.094, <br />Subdivision 2, the City has, by resolution of the Council, <br />transferred the control, authority, and operation of the <br />Development Project to the EDA, subject to EDA's acceptance <br />thereof. <br />2. Adoption of Bylaws.and Appointment of Officers. The Board hereby <br />(1) approves the Bylaws of the EDA attached hereto as Exhibit A, <br />as presented for the Board's consideration, and (2) appoints and <br />approves the following officers of the EDA: <br />President: Jerry Linke <br />Vice -President: Phyllis Blanchard <br />Secretary: Diane Wuori <br />Treasurer: Don Brager <br />Executive Director/Assistant Treasurer: Samantha Orduno <br />Clerk: Michele Severson <br />3. Acceptance of Proiect Transfer. The Board hereby accepts the <br />transfer authorized by the City to the EDA of the control., <br />authority, and operation of the Development Project. Pursuant to <br />Minnesota Statutes, Section 469.094, Subdivision 21 the EDA may <br />and shall exercise all, of the powers that the City could exercise <br />with respect to the Development Project, and the Board and the <br />EDA hereby covenant and pledged to perform the terms, conditions, <br />and covenants of all bond indentures and other <br />