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• CITY OF ST. ANTHONY VILLAGE <br /> RESOLUTION NO.09-060 <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. ANTHONY, <br /> MINNESOTA (the "City"), AS FOLLOWS: <br /> Section 1. Recitals. Pursuant to Resolution No. 05-050 adopted June 14, 2005, and <br /> Resolution No. 06-025 adopted February 14, 2006, the City Council approved an interfund loan(the <br /> "Loan") by the City and the St. Anthony Housing and Redevelopment Authority (the "HRA") in the <br /> amount of up to $500,000 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 "Redevelopment Project") and <br /> Tax Increment Financing District No. 3-5 of the HRA (the"TIF District"). The Loan is to be repaid from <br /> available tax increments from the TIF District. It has been proposed that the maximum principal amount <br /> of the Loan be increased to up to $1,000,000. <br /> Section 2. Approvals. The increase in the principal amount of the Loan to up to <br /> $1,000,000 from the water filtration fund or any other authorized source is hereby approved. All other <br /> approvals and authorizations in Resolution No. 05-050 and Resolution No. 06-025 are hereby ratified, <br /> • confirmed and approved and Resolution No. 05-050 and Resolution No. 06-025 remain in full force and <br /> effect except to the extent of such increase in the principal amount of the Loan. <br /> Adopted by the City Council of the City of St. Anthony on this 23rd day of June, 2009. <br /> Mayor <br /> Attest: <br /> City ClerO <br /> Reviewed for Administration: <br /> City Ma ger <br />