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<br />EXTRACT OF MINUTES OF A MEETING OF THE <br />CITY COUNCIL OF THE CITY OF HUGO, <br />MINNESOTA <br />HELD: JULY 19, 2021 <br />Pursuant to due call and notice thereof, a regular meeting of the City Council of the City <br />of Hugo, Washington County, Minnesota, was duly called and held at the City Hall in Hugo, <br />Minnesota, on July 19, 2021, at 7:00 p.m., for the purpose, in part, of approving tax abatements <br />in connection with improvements to the Lions Park and related public improvements in the City. <br />The following members were present: Klein, Miron, Petryk, Strub, Weidt <br />and the following were absent: None <br /> <br />Member Miron introduced the following resolution and moved its adoption: <br />RESOLUTION NO. 2021-52 <br />RESOLUTION APPROVING PROPERTY TAX ABATEMENTS <br />BE IT RESOLVED by the City Council of the City of Hugo, Minnesota (the "City"), as <br />follows: <br />WHEREAS, the City proposes to approve tax abatements in connection with <br />public improvements to the Lions Park and related public improvements in the City (the <br />"Project"). The City proposes to use the abatement for the purposes provided for in the <br />Abatement Law (as hereinafter defined), including the Project. The proposed term of the <br />abatement will be for up to twenty (20) years in an amount not to exceed $9,000,000. The <br />abatement will apply to the City's share of the property taxes (the "Abatement") derived from the <br />property described by tax parcel identification numbers on the attached “Exhibit A” (the <br />“Property”) located in the City and in Washington County; and <br />WHEREAS, the City has requested, in writing, that Independent School District <br />No. 624 (the “White Bear Lake Area School District”) grant an abatement for the Project. The <br />White Bear Lake Area School District has declined, in writing, to grant an abatement and <br />therefore the City has the authority to grant an abatement for up to 20 years; and <br />WHEREAS, on the date hereof, the Council held a public hearing on the question of the <br />Abatement, and said hearing was preceded by at least 10 days but not more than 30 days prior <br />published notice thereof; and <br />WHEREAS, the City Council proposes to issue its General Obligation Tax Abatement <br />Bonds, Series 2021A (the "Bonds") in an amount not to exceed $9,000,000 to finance the <br />Project; and the Abatement will be pledged to the payments of the Bonds; and <br />WHEREAS, the Abatement is authorized under Minnesota Statutes, Sections 469.1812 <br />through 469.1815, as amended (the "Abatement Law").