HomeMy WebLinkAboutCity Council Resolution 1998-540RESOLUTION NO. 98-540
RESOLUTION TERMINATING TAX INCREMENT FINANCING
DISTRICT NO. 7-5 (A HOUSING DISTRICT) AND DIRECTING
DECERTIFICATION THEREOF BY THE COUNTY AUDITOR
WHEREAS, by adoption of a resolution on September 3, 1997, the City Council
of the City of Plymouth, Minnesota has heretofore created Tax Increment Financing
District No. 7-5 (the "District') and has approved a Tax Increment Financing Plan (the
"TIF Plan") for the District to promote the housing and related development set forth
therein; and
WHEREAS, the County Auditor of Hennepin County has certified the original
net tax capacity and the original local tax rate of the District pursuant to the provisions
of Minnesota Statutes, Section 469.177; and
WHEREAS, the City has determined that it is in the best interests of the City to
terminate and decertify the District.
NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of
Plymouth, Minnesota that (i) the District is hereby terminated and canceled and (ii) the
City Manager shall provide a certified copy of this resolution to the County Auditor so
that the District may be decertified on the books and records of the County Auditor.
Adopted: September 2, 1998