Laserfiche WebLink
51 <br />"Tax Official" means any City or County assessor; County auditor; City, County, or <br />State board of equalization; the Commissioner of Revenue of the State; or any State or Federal <br />district court, the Tax Court of the State, or the State Supreme Court. <br />"TIFAct" means Minnesota Statutes Sections 469.174-469.1799, as amended, or any <br />successor statutes. <br />"TIF Note" means the Tax Increment revenue note to be issued by the Authority in <br />accordance with the provisions of Article IX hereof, and substantially in the form attached as <br />Exhibit F, to reimburse the Developer for Qualified Redevelopment Costs. <br />"TIF District" means the City's TIP District, designated as District 3-5, which was <br />certified on December 31, 2003. <br />"TIFPlan" means that certain Tax Increment financing plan for the TIP District <br />approved by the Authority and the City. <br />"Unavoidable Delays" means delays, outside the control of the party claiming its <br />occurrence, which are the direct result of (a) unusually severe or prolonged bad weather, (b) acts <br />of God, fire or other casualty to the Minimum Improvements, (c) litigation commenced by third <br />parties which, by injunction or other similarjudicial action, directly results in delays, (d) acts of <br />any federal, State or local governmental unit which directly result in delays, (e) strikes, other <br />labor trouble, (f) delays in delivery of materials for the Minimum Improvements or (g) soil <br />conditions of the Development Property. <br />ARTICLE II <br />REPRESENTATIONS AND WARRANTIES <br />Section 2.1 Representations and Warranties of the City. The City makes the <br />following representations and warranties: <br />(a) The City is a Minnesota municipal corporation and a statutory city and has the <br />power to enter into this Agreement and carry out its obligations hereunder. The City has duly <br />authorized the execution, delivery and performance of this Agreement. <br />(b) The City is authorized by law to enter into the various additional agreements <br />contemplated herein; <br />(c) There is not pending, nor to the best of the City's knowledge is there threatened, <br />any suit, action or proceeding against the City before any court, arbitrator, administrative agency <br />or other governmental authority that materially and adversely affects the validity of any of the <br />transactions contemplated hereby, the ability of the City to perform its obligations hereunder, or <br />as contemplated hereby or thereby, or the validity or enforceability of this Agreement. <br />(d) No member of the Board of the City or officer of the City, has either a direct or <br />indirect financial interest in this Agreement, nor will any Commissioner of the City or officer of <br />the City, benefit financially from this Agreement within the meaning of Minnesota Statutes, <br />Sections 412.311 and 471.87. <br />7 <br />