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RESOLUTION NO. 2018-45 <br />RESOLUTION RELATING TO THE TERMINATION OF TAX <br />INCREMENT DISTRICT NO. 1-1 AND DIRECTING <br />DECERTIFICATION THEREOF BY THE COUNTY AUDITOR <br />WHEREAS, by adoption of a resolution on August 19, 1996 the City of Hugo, Minnesota <br />(the "City") has heretofore created Tax Increment Financing (Redevelopment) District No. 1-1 <br />(the "District"), and has approved a Tax Increment Financing Plan (the "TIF Plan"), for the <br />district; and <br />WHEREAS, the County Auditor of Washington County has certified the original net tax <br />capacity and the original local tax rate of the District pursuant to the provisions of Minnesota <br />Statutes, Section 469.177; and <br />WHEREAS, as of the date hereof, the projects have been completed, all obligations to <br />which tax increment from the District has been pledged have been paid in full or defeased, and <br />the City has determined that it is in the best interests of the City to terminate and decertify the <br />District. <br />NOW, THEREFORE, BE IT RESOLVED by the City of Hugo, Minnesota that: <br />(1) Tax Increment Financing District No. 1-1 is hereby terminated as of December 31, <br />2018. <br />(2) The Clerk shall provide a certified copy of this resolution to the County Auditor of <br />Washington County so that the District may be decertified on the books and records <br />of the County Auditor with no further tax increment from the District being remitted <br />to the City. <br />ADOPTED by the City Council of the City of Hugo, Minnesota this 3rd day of December 2018. <br />AP V <br />Tom Weidt, Mayor <br />ATTEST: <br />1 <br />Mich�Lindau, City Clerk <br />