HomeMy WebLinkAboutCity Council Resolution 2001-555CERTIFICATION OF MINUTES RELATING TO
TAX INCREMENT FINANCING DISTRICTS NO. 7-4, 7-5A AND 7-6
Issuer: City of Plymouth, Minnesota
Governing Body: City Council
Kind, date, time and place of meeting: A regular meeting held December 18, 2001, at
8:00 p.m., at the City Hall, Plymouth, Minnesota.
Members present: Mayor Tierney, Councilmembers Harstad, Hewitt, Slavik, Stein,
Johnson, and Black
Members absent: None
Documents Attached:
Minutes of said meeting (including):
RESOLUTION NO. 2001-555
RESOLUTION APPROVING AMENDMENTS TO TAX
INCREMENT FINANCING PLANS FOR TAX INCREMENT
FINANCING DISTRICTS NO. 7-4, 7-5A AND 7-6
I, the undersigned, being the duly qualified and acting recording officer of the public
corporation issuing the bonds referred to in the title of this certificate, certify that the
documents attached hereto, as described above, have been carefiilly compared with the
original records of said corporation in my legal custody, from which they have been
transcribed; that said documents are a correct and complete transcript of the minutes of a
meeting of the governing body of said corporation, and correct and complete copies of all
resolutions and other actions taken and of all documents approved by the governing body
at said meeting, so far as they relate to said bonds; and that said meeting was duly held
by the governing body at the time and place and was attended throughout by the members
indicated above, pursuant to call and notice of such meeting given as required by law.
WITNESS my hand officially as such recording officer this day of December, 2001.
City Clerk
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Councilmember Johnson introduced the following resolution and moved its adoption,
which motion was seconded by Councilmember Black:
RESOLUTION APPROVING AMENDMENTS TO TAX
INCREMENT FINANCING PLANS FOR TAX INCREMENT
FINANCING DISTRICTS NO. 7-4, 7-5A AND 7-6
WHEREAS, the City of Plymouth, Minnesota (the "City") proposes to amend the
tax increment financing plans (the "Plans") heretofore approved for the above tax
increment financing districts (the "Districts"), pursuant to the provisions of Minnesota
Statutes, Section 469.175, subdivision 4(a), for the primary purposes of (i) extending the
termination dates and amending the budgets for the Districts No. 7-4 and 7-6 to authorize
the transfer out of available tax increments to District No. 7-5A to cover deficits which
may arise in the fiiture in District No. 7-5A and (ii) extending the termination date and
amending the budget for District No. 7-5A to reflect the transfer in of available tax
increments from Districts No. 7-4 and 7-6 to the extent necessary to eliminate deficits in
District No. 7-5A, all as authorized by Minnesota Statutes, Section 469.1763, subdivision
6; and
WHEREAS, drafts of the proposed amendments (the "Amendments") have been
prepared and fiirnished to this Council for review; and
WHEREAS, the City has submitted copies of the proposed Amendments to the
County Board of Commissioners and the school board of the local school district not less
than 30 days prior to the date hereof,
WHEREAS, the City Council, on the date hereof, held a public hearing regarding
approval of the Amendments, for which hearing notice was published in a newspaper of
general circulation in the City not less than 10 or more than 30 days prior to the date
hereof, including a map of the applicable Project Area and the Districts;
WHEREAS, the City has performed all actions required by law to be performed
prior to the consideration of the Amendments.
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE
CITY OF PLYMOUTH, MINNESOTA, as follows:
I . On the basis of the information presented to the Council, information included in
the Amendments, information provided at the public hearing and at other Council
meetings, the Council hereby finds and determines that it is necessary and desirable to
extend the termination dates and amend the respective budgets included in the Plans to
authorize the transfer of available tax increments from Districts No. 7-4 and 7-6 to
District No. 7-5A, to the extent necessary to eliminate fiiture deficits in District No. 7-
5A.
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2. The Amendments are hereby approved and adopted by the City in substantially
the form on file with the City on this date.
3. Except as amended by the Amendments, the Plans, and resolutions adopting and
approving the Plans, and the findings originally contained therein, are incorporated herein
by reference and are confirmed.
4. The City Finance Director is authorized and directed to file a copy of the
Amendments with the Commissioner of Revenue.
Adopted this 18t1' day of December, 2001.
Upon vote being taken thereon, the following voted in favor of the foregoing resolution:
and the following voted against the same: All members voted in faor.
whereupon the resolution was declared duly passed and adopted.
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