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MINN <br />CITY ORESOLUTION NOS. 2284 ESOTA <br />PIS <br />BEING A RESOLUTION AUTHORIZING AND AWARDING THE <br />BALE OF, AND PROVIDING COVENANTS AND DIRECTIONS FORMTERMS, <br />S ,000,000 <br />TAXABLE GENERAL OBLIGATION TAR INCREMENT BONDS, <br />SERIES 1988A, AND PLEDGING FOR THE SECURITY THEREOF <br />TAX HiCH WTTHI2REDEVELOPMENTREMENT <br />I TIT,-VELOPMENT DISTRICTNO.DISTRICT <br />NO <br />CITY OBE IT RESOLVEU 3Y THE CITY COUNCIL (THE F MOUNDS VIEW, , iNN SOTA (THE "ISSUER") AS 17OL"COUNCIL") <br />11) OF THE <br />LOWS J <br />Section I. Recitals. <br />1.01 The Counc!1 has heretofore adopted and <br />created <br />Tax Increment <br />mer Minnesota <br />Redevelopment District No. 1 (the "District') pursuant <br />Statutes, Sections 469.174 to 469.179, within Development District NO. 1 created <br />pursuant to Minnesota Statutes, Sections 469.124 to 469.134. <br />1.02 The Issuer has heretofore adopted a Tax Increment Financing Plan for <br />Its Tnx Increment Financing District No. 1 within �DevellopmTnont Dist ict No. <br />6. 2 <br />which said Tax Increment Financing elan way adopt-.. n--r•-•- <br />certificate dated November 14, 1986 he County Auditor of Ramsey County has <br />certified the Origin,' Asse^sed Value of all taxable property In the Tax Increment <br />Financing District to be $2,403,7114 as of September 22, 1986. The original <br />assessed value of the District will be adjusted each year In acccrdance with <br />Minnesota Statutes, Section 273,76, Subdivision 1. <br />1.03 Based upon present and anticipated mill rates for ad valorem taxes to <br />be levied on taxable property in Tax Increment Redevelopment District No. 1, the <br />Council hereby estimates that the total annual tax Increment to be <br />he District will be approximately as shown on the attached Appendix derived from <br />1.04 The issuer has heretofore Issued the following issues of general <br />obligation—bds which have been defeased by the <br />n cash and <br />investmentson$1,860,000 General obligationdeposit <br />Sewer improvementeBonds of 1965, <br />and ;2,640,000 General Obligation Improvement Bonds of 1966. As permitted by <br />Minnesota Statutes, Section 475.54, the Issuer hereby determines that the unpaid <br />fprinelpal or the purpose nt of such ot establishingsthealt be matur maturity egated with the Bonds described below <br />schedule for the Bonds, <br />Section 2. Award of Sale; Terms of Bonds. <br />2.01. Affidavits showing publication of notice of call <br />for <br />bideen In theexamiofficial <br />ial <br />and <br />newspaper of the issuer and in <br />file. The following bids fc: the sale of <br />have been approved and ordered placed on <br />the Bonds were received: <br />[Attached] <br />