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HOUSING AND REDEVELOPMENT AUTHORITY <br />RESOLUTION 09-009 <br />A RESOLUTION AUTHORIZING THE TRANSFER OF $347,300.00 TO FUND <br />#335 - 2006 TIF REVENUE BOND FUND AND $306,173.76 TO <br />FUND #336 - 2007 TIF REVENUE BOND FUND FROM <br />FUND #330 APACHE TIF DISTRICT #3 - 5 <br />WHEREAS, the Housing and Redevelopment Authority of the City of St. Anthony <br />established the Apache TIF District #3-5 for the redevelopment of Apache <br />Plaza area (now known as Silver Lake Village); and <br />WHEREAS, the tax increment generated from District #3-5 supports the annual debt <br />payments for the Series 2006 and 2007 TIF Revenue Bonds and the pay-as- <br />you-go note for the Landings; and <br />WHEREAS, in 2009, the City collected tax increment revenue from the District and has <br />paid all debt service obligations for the year; and <br />WHEREAS, as part of the pay -back process the City is required to reclassify the annual <br />TIF revenues from the District to the 2006 and 2007 TIF Revenue Bond <br />Funds. This amount of the transfer is equal to that of the annual debt <br />service payments (this transfer is for the fiscal year 2009). <br />BE IT FURTHER RESOLVED, that the Housing Redevelopment Authority of the City of <br />St. Anthony authorizes the Transfer of $347,300.00 to Fund #335 - 2006 TIF Revenue <br />Bond Fund and $306,173.76 to Fund #336 - 2007 TIF Revenue Bond Fund from Fund <br />#330 Apache TIF District #3 - 5 (246). <br />Adopted this 10th day of November, 2009. <br />Chair <br />Executive Director <br />UAMICROSOFT WORD DOCUMENPS\APACHE TIP DISTRICT 3-5 RESOLUTION TRANSFER 2009.doc <br />