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RESOLUTION NO. 84 -10
RESOLUTION APPROVING SALE OF BONDS BY THE
CITY OF LAKEVILLE AND EXECUTION OF
COOPERATION AGREEMENT
WHEREAS, the Housing and Redevelopment Authority of
the City of Lakeville, Minnesota (the Authority) has previously
approved the Redevelopment Plan and Tax Increment Financing
Plan for the I -35 Redevelopment Project #1 and Tax Increment
Financing District #1 to provide funds to pay the public
redevelopment costs of the redevelopment project described
therein; and
WHEREAS, the City of
hearing on the respective plan
resolution required by Section
Statutes; and
Lakeville has held a public
and has adopted the approving
273.74, subd. 3, Minnesota
WHEREAS, the City has authorized the sale and issuance
of $1,300,000 aggregate principal amount of General Obligation
Water Revenue Bonds (the Bonds) to finance said public
redevelopment costs pursuant to a resolution adopted June 18,
1984; and
WHEREAS, a Cooperation Agreement has been prepared
specifying the respective actions to be taken by the Authority
and City with respect to the project and the tax increments
to be derived from the tax increment financing district.
NOW, THEREFORE, BE IT RESOLVED by the Board of
Commissioners of the Authority, as follows:
1. The sale of the Bonds by the City is approved.
2. The Cooperation Agreement is hereby approved and
the Chairman and Executive Secretary are authorized to execute
the same on behalf of the Authority.
Adopted this 2nd day of July,
Approved:
Attest: '
10 cretary
19
Y
Chairman