Agenda Packets - 1988/02/22 - Laserfiche WebLink

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4. The City Clerk -Administrator is hereby authorized and directed to file a copy of the Financing Plan for the Tax increment District with the Minnesota Commissioner of Trade and Economic Development. 5. Following approval of the Financing Plan by the City, the City Clerk - Administrator Is authorized and directed to request the Ccunty Auditor of Ramsey County to certify the original assessed value of the real property within the Tax increment District 112, as described in the Financing Plan, and to certify in each year hereafter the amount by which the assessed value has increased or decreased from the original assessed value of the District, and to remit to the City each year, commencing on the date Indicated In the Financing Pian, that portion of all taxes paid in that year on real property in the District which the captured assessed value bears to the then -current assessed value, all pursuant to Minnesota Statutes, Section 469.177. 6. Following approval of the Financing Plan by the City, the City Clerk - Administrator, together with the City's financial advisor, legal counsel and bond counsel, Is authorized and directed to proceed with the implementation of the Development Program and Financing Plan, and for this purpose to negotiate, draft, prepare and present to this Council for its consideration all resolutions, documents and contracts necessary for this purpose. Adopted this 22nd day of February, 1988. C Mayor ATTESTED: CV-, Olerk-Administrater (SEAL)