Laserfiche WebLink
CITY OF PEQUOT LAKES <br /> COUNTY OF CROW WING <br /> STATE OF MINNESOTA <br /> RESOLUTION 09-05 <br /> A RESOLUTION DECERTIFYING <br /> TAX INCREMENT FINANCING DISTRICT NO. 1-8 WATER WARS <br /> OF THE CITY OF PEQUOT LAKES <br /> WHEREAS, on August 17, 1999, the City of Pequot Lakes (the "City") created its Tax Increment <br /> Financing District No. 1-8 Water Wars,(the"District")within its Development District No. 1 (the"Project"); <br /> and <br /> WHEREAS,Minnesota Statutes,Section 469.174 to 469.179 authorizes the City Council to decertify a <br /> tax increment financing district on any date after all bonds and other obligations have been satisfied; and <br /> WHEREAS,as of the date hereof all bonds and obligations to which tax increment from the District <br /> have been pledged have been paid in full; and <br /> WHEREAS,the City desires by this resolution to decertify the District effective December 31,2008, <br /> by which all taxing jurisdictions will benefit from an increased tax base effective for taxes payable in 2009; <br /> and <br /> WHEREAS, if there is excess tax increment in the account for the District it will be returned to the <br /> County Auditor for redistribution to the regular taxing jurisdictions; <br /> NOW THEREFORE, BE IT RESOLVED by the City Council of the City of Pequot Lakes that it <br /> acknowledges such action was taken by the County Auditor of Crow Wing County to decertify the District as a <br /> tax increment district and to no longer remit tax increment from the District to the City. <br /> DATED-2 Jam- r 2O <br /> - c.d.} <br /> Nancy Adams, or'Ma Y <br /> ATTE.T: <br /> a <br /> Sandra Peine, City Clerk <br /> (Seal) <br />