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CITY OF PEQUOT LAKES <br /> COUNTY OF CROW WING <br /> STATE OF MINNESOTA <br /> RESOLUTION 09-23 <br /> BEING A RESOLUTION APPROVING THE DECERTIFICATION OF <br /> TAX INCREMENT FINANCING DISTRICT NO. 1-1 (Gammello) OF THE <br /> CITY OF PEQUOT LAKES <br /> WHEREAS, on October 18, 1989, the City of Pequot Lakes (the "City") created its Tax <br /> Increment Financing District No. 1-1 ("District No.1-1") within its Development District No. 1 (the <br /> "Project");and <br /> WHEREAS, as of the date hereof all bonds and obligations to which tax increment from District <br /> No. 1-1 have been pledged have been paid in full or defeased and all other costs of the Project have been <br /> paid; and <br /> WHEREAS, the City desires by this resolution to cause the decertification of District No.1-1 as <br /> of December 31, 2009, after which all property taxes generated by property within the District will be <br /> distributed in the same manner as all other property taxes. <br /> NOW THEREFORE, BE IT RESOLVED by the City Council of the City of Pequot Lakes that <br /> the City's staff shall take such action as is necessary to cause the County Auditor of Crow Wing County to <br /> decertify the District No. 1-1 as a tax increment district and to no longer remit tax increment from the <br /> District No. 1-1 to the City. <br /> DATED:August 4,2009 <br /> Mayor <br /> ATTEST: <br /> (Seal) <br />