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• RESOLUTION NO. 06-025 <br /> RESOLUTION AUTHORIZING AN INCREASE IN THE <br /> PRINCIPAL AMOUNT OF INTERFUND LOANS FOR TAX <br /> INCREMENT FINANCING DISTRICT NO. 3-5 <br /> BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF ST. <br /> ANTHONY, MINNESOTA (the"City"), AS FOLLOWS: <br /> Section 1. Recitals. Pursuant to Resolution No. 05-050 adopted June 14, <br /> 2005, the City Council approved an interfund loan (the "Loan") by the City and the St. <br /> .Anthony Housing and Redevelopment Authority (the "HRA") in the amount of up to <br /> $200,000 to finance on a temporary basis certain public redevelopment costs of the City <br /> and HRA with respect to Redevelopment Project No. 3 of the HRA (the <br /> "Redevelopment Project") and Tax Increment Financing District No. 3-5 of the HRA <br /> (the"TIF District"). The Loan is to be repaid from available tax increments from the TIF <br /> District. It has been proposed that the maximum principal amount of the Loan be <br /> increased to up to $500,000. <br /> Section 2. Approvals. The increase in the principal amount of the loan to <br /> • up to $500,000 is hereby approved. All other approvals and authorizations in <br /> Resolution No. 05-050 are hereby ratified, confirmed and approved and Resolution No. <br /> 05-050 remain in full force and effect except to the extent of such increase in the <br /> principal amount of the Loan. <br /> Adopted on this 14th day of February, 2006. <br /> Mayor <br /> I ///Y/,I/IVA <br /> Attest: htl <br /> City Cl <br /> Reviewed for Administration: <br /> City Manager <br /> • <br />