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1997.08.18 RESO 1997-0017
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1997.08.18 RESO 1997-0017
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City Council
Document Type
Resolutions
Meeting Date
8/18/1997
Meeting Type
Regular
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EXTRACT OF MINUTES OF A MEETING OF THE <br />CITY COUNCIL OF THE CITY OF <br />HUGO, MINNESOTA <br />HELD: August 18, 1997 <br />Pursuant to due call and notice thereof, a regular <br />meeting of the City Council of the City of Hugo, Washington <br />County, Minnesota, was duly held at the City Hall in said City on <br />Monday, the 18th day of August, 1997, at 7:00 o'clockP .M., for <br />the purpose, in part, of authorizing the issuance of, and <br />awarding the sale of, $320,000 Taxable General Obligation Tax <br />Increment Bonds, Series 1997 of the City. <br />The following members were present: <br />Fran Miron, Andrew Goiffon, Deborah Johnson, and James Leroux <br />and the following were absent: Debra Barnes <br />Member Fran Mi ron introduced the following resolution <br />and moved its adoption. <br />RESOLUTION 97-1_ <br />RESOLUTION AND PROVIDING FOR THE <br />ISSUANCE AND SALE OF <br />$320,000 TAXABLE GENERAL OBLIGATION <br />TAX INCREMENT BONDS, SERIES 1997, AND <br />PLEDGING FOR THE SECURITY THEREOF TAX <br />INCREMENTS <br />A. WHEREAS, on August 19, 1996, the City Council of <br />the City of Hugo, Minnesota (the "City"), created Development <br />District No. 1 (the "Development District") pursuant to the <br />provisions of Minnesota Statutes, Sections 469.124 through <br />469.134, and approved a development program (the "Program") with <br />respect to the Development District; and <br />B. WHEREAS, on August 19, 1996, the Council also <br />approved a tax increment financing plan (the "Plan") and <br />designated Tax Increment Financing District No. 1-1, a "scattered <br />site" redevelopment district within the Development District (the <br />"Tax Increment District") under the provisions of Minnesota <br />Statutes, Sections 469.174 through 469.179; and <br />C. WHEREAS, pursuant to the provisions of the Program <br />and the Plan, funds are to be expended within the Development <br />District to provide money to finance the cost of land acquisition <br />360858.1 <br />
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