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RESOLUTION AUTHORIZING AN AMENDMENT TO THE COOPERATION AGREEMENT WHEREAS , the City of Pequot Lakes and the Housing and Redevelop- ment Authority of Pequot Lakes , Minnesota, did in March of 1970, sign a "Cooperative Agreement" wherein it was agreed that the Local Authority . would make an annual Payment in Lieu of Taxes to the taxing authority and the Municipality agreed to provide certain services in return therefor , and WHEREAS , subsequent to the date of signing , certain utility expenditures and other miscellaneous costs have put a financial strain on the operations of the low-rent housing project for the elderly in the City of Pequot Lakes , and WHEREAS , the monetary amount of the Payment in Lieu of Taxes retained by the City of Pequot Lakes is inconsequential , and WHEREAS , the City Council is of the opinion that the money could be used more advantageously by the Local Authority for the health, welfare and the expansion of services to the elderly, now THEREFORE, BE IT RESOLVED by the Council of the City of Pequot -- Lakes , Minnesota, that the payment in lieu of taxes , be waived, set aside and stricken from the Cooperative Agreement starting for the year 1976, and each year to follow thereafter, and that the Mayor be and he is hereby authorized and directed to execute said Amendment to the Cooperation Agreement , in behalf of said City and the City Clerk is hereby authorized and directed to affix the corporate seal of said City thereon and to attest the same, and BE IT FURTHER RESOLVED that all other stipulations contained in the Cooperative Agreement shall not be abrogated, changed or modified without the mutual consent of all parties concerned. Adopted this Rth day of December , 1975 ^6 itZe._ 2zz�i Mayor ATTEST: / 7 City Clerk L.