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RESOLUTION 1990-20 <br />RESOLUTION AUTHORIZING <br />MUNICIPAL SERVICE CHARGE AGREEMENT <br />THIS AGREEMENT, made on or as of the 16th day of July , 1990, by <br />and between the City of Hugo (the "City"), a statutory city of the State <br />of Minnesota, and the Washington County Housing and Redevelopment <br />Authority (the "Authority"), a public body corporate and politic of the <br />State of Minnesota. <br />WITNESSETH: <br />WHEREAS, the Authority is authorized to transact business and <br />exercise its powers within the corporate boundaries of the City by a <br />resolution of the City Council adopted on July 16 , 1990, pursuant to <br />Minnesota Statutes, Section 469.005; and <br />WHEREAS, the Authority has undertaken a housing project (the <br />"Project"), pursuant to Minnesota Statutes, Sections 459.026 on certain <br />property (the "Property") located within the City (described in Exhibit A <br />to this Agreement); and <br />WHEREAS, pursuant to Minnesota Statutes, Section 469.040, the <br />Authority shall pay a service charge for the services and facilities <br />furnished to the Project; <br />NOW, THEREFORE, in consideration of the premises and the mutual <br />obligations of the parties hereto, each of them does hereby covenant and <br />agree with the other as follows: <br />1. Statement Filed with Assessor. On or before May 1 of each year <br />after the project has became wholly or partially occupied, the Authority <br />shall file with the Washington County Assessor a statement of the <br />aggregate shelter rentals of the Project collected during the preceding <br />calendar year. For purposes of this Agreement, "shelter rental" means the <br />total rentals of the Project, exclusive of any charge for utilities and <br />special services such as heat, water, electricity, gas, sewage disposal, <br />or garbage removal. <br />2. Service Charge. Five percent 0%) of the aggregate shelter <br />rentals of the Project shall be charged to the Authority as a service <br />charge (the "Service Charge"). The Service Charge shall be collected from <br />the Authority in the same manner as the collection of taxes and <br />assessments. <br />3. Maximum Service Charyg. Pursuant to Minnesota Statutes, Section <br />469.040, subdivision 3, the Service Charge shall not exceed the taxes <br />which would be payable were the Project not exempt from real estate taxes. <br />4. Special Assessment Service Charge. The Authority shall also pay <br />to the City a special service charge (the "Special Assessment Service <br />Charge") in addition to the Service Charge in an amount in the same manner <br />