Resolution 95-02 - Laserfiche WebLink

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(d) the Tax Increment Plan will afford maximum opportunity, consistent with the sound needs of the City as a whole, for the development of the Development District by private enterprise; and (e) the City is outside the area to which the fiscal disparity provisions of Minnesota Statutes, Chapter 473F apply, and hence the election of a method of computation of tax increments under Minnesota Statutes, Section 469.177, Subdivision 3, clause (b), is not applicable. The reasons and supporting facts for each of the above findings and determinations are set forth on Exhibit B attached hereto and by this reference incorporated herein as if stated fully herein, and are hereby confirmed, approved and adopted. 8. Filing. The City Clerk-Treasurer is hereby directed to file a copy of the Program and Plan with the Commissioner of Revenue. 9. Request for Certification. The City Clerk-Treasurer shall request the County Auditor of Crow Wing County to certify the original net tax capacity and original tax rate of the Tax Increment Financing District. 10. Captured Net Tax Capacity. The City hereby states its intention to use all of the captured net tax capacity of the Tax Increment Financing District for purposes of tax increment financing as set forth in the Tax Increment Plan. 11 . Annual Reports. The City shall comply with the provisions of Minnesota Statutes, Section 469.175, Subdivision 5, 6 and 6a, by preparing and submitting to the required parties an annual disclosure report. 12. Severability. If any section, paragraph or provision of this resolution shall be held to be invalid or unenforceable for any reason, the invalidity or unenforceability of such section, paragraph or provision shall not affect any of the remaining provisions of this resolution. 13. Headings. Headings in this resolution are included for convenience of reference only and are not a part hereof, and shall not limit or define the meaning or any provision hereof.