09.02E Trailside Park Master Park Plan - Call Tax Abatement Bond Public

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EXTRACT OF MINUTES OF A MEETING OF THE CITY COUNCIL OF PEQUOT LAKES, MINNESOTA HELD: July 9, 2018 Pursuant to due call and notice thereof, a regular meeting of the City Council of Pequot Lakes, Minnesota was duly held at City Hall on the 9th day of July, 2018 at 6:30 p.m.for the purpose, in part, of calling for a public hearing on the approval of a property tax abatement. The following Council Members were present: and the following were absent: Council Member introduced the following resolution and moved its adoption; RESOLUTION SETTING DATE FOR A PUBLIC HEARING ON THE APPROVAL OF A TAX ABATEMENT RESOLUTION FOR THE TRAILSIDE PARK PROJECT AND THE ADJACENT STREET AND UTILITY PROJECT WHEREAS: 1. The City of Pequot Lakes has determined it necessary and feasible to assist with public costs, specifically the Trailside Park Improvement Plan and the related adjacent street and utility improvements,within its corporate limits;and 2. The City Council intends to abate its share of property taxes on benefitting parcels benefiting from the project to finance the costs constructing said improvements, under the authority of Minnesota Statutes 469.1812 to 469.1815(the "Abatement Lavr/'); and 3. Prior to approving an abatement resolution and the use of tax abatement the City must hold a public hearing. BE IT RESOLVED by the City Council as follows: 1. Public Hearina. The City Council shall hold a public hearing on the use of tax abatement and the issuance of general obligation tax abatement bonds to finance the costs related to the Trailside Park Improvements and the related adjacent street and utility improvements at 6:30 P.M. on Tuesday, August 7, 2018 at the Pequot Lakes City Hall. Staff is directed to publish notice of this hearing as required by Abatement Law. The motion for the adoption of the foregoing resolution was duly seconded by Council Member and upon vote being taken thereon, the following voted in favor: and the following voted against the same. Whereupon said resolution was declared duly passed and adopted.