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NOW THEREFORE, BE IT RESOLVED by the City Council of the City of Pequot Lakes, <br /> �.. Minnesota as follows: <br /> 1. For purposes of Minnesota Statutes, Section 469.033, Subd. 6, the City hereby consents to <br /> and approves the levy by the City HRA, in any year while the Bonds remain outstanding,of the City <br /> HRA's special benefits tax in the amounts in each year, and for the purposes, described in Section <br /> 3.5 of the Joint Powers Agreement; provided that in any year, the levy shall not exceed .0185 <br /> percent of taxable market value in the City, or any higher amount permitted under Section 469.033, <br /> Subd. 6 at the time the levy is approved by the City HRA. <br /> 2. A copy of this Resolution shall be furnished to the County HRA through its Executive <br /> Director by the City Clerk. <br /> Adopted this 3rd day of April,2012. <br /> 7t444' <br /> Mayor <br /> ATTEST: <br /> Clerk-Treasurer <br /> 400751v2 CR195-11 2 <br />