HomeMy WebLinkAbout02-117 RESOLUTION 02-117
RESOLUTIONAPPROVING THE DECERTIFICATION OF TAX
INCREMENT FINANCING DISTRICT NO. 2-4 OF THE CITY OF
PRIOR LAKE.
MOTION BY: Petersen SECOND BY: Gundlach
WHEREAS: On August 2, 1994, the City of Prior Lake (the "City") created its Tax Increment
Financing District No. 2-4 ("District No. 2-4") within its Project Area No. 2 (the "Project
Area"); and
WHEREAS: As of the date hereof all bonds and obligations to which tax increment from District No.
2-4 have been pledged have been paid in full or defeased and all other costs of the Project
have been paid; and
WHEREAS: the City desires by this resolution to cause the decertification of District No. 2-4 after
which all property taxes generated by property within the District will be distributed in
the same manner as all other property taxes.
NOW THEREFORE, BE IT RESOLVED BY THE CITY OF PRIOR LAKE, MINNESOTA: 1. The above recitals are incorporated herein as if fully set forth.
2. The City's staff shall take such action as is necessa'y to cause the County Auditor of Scott
County to decertify the District No. 2-4 as a tax increment district and to no longer remit tax
increment from the District No. 2-4 to the City.
Passed and adopted this 15th day of July, 2002
Yes No
Haugen X Haugen
Gundlach X Gundlach
LeMair X LeMair
Petersen X Petersen
Zieska X Zieska
Frank Boyles,~ity l[/lanager
02-117
16200 Eagle Creek Ave. S.E., Prior Lake, Minnesota 55372-1714 / Ph. (952) 447-4230 / Fax (952) 447-4245
AN EQUAL OPPORTUNITY EMPLOYER