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16200 Eagle Creek Avenue S.E.
Prior Lake, MN 55372-1714
RESOLUTION 04-189
A RESOLUTION APPROVING THE DECERTIFICATION OF
TAX INCREMENT FINANCING DISTRICT NO. 1-2 (AMOCO GAS)
OF THE CITY OF PRIOR LAKE.
Motion By: PETERSEN
Second By: LEMAIR
WHEREAS, on March 23, 2988, the City of Prior Lake (the "City") created its Tax Increment Financing
District No. 1-2 ("District No. 1-2") within its Project Area No.1, which was established
March 1, 1985 in order to promote redevelopment of the Downtown and commercial
properties along TH 13 (the "Project Area"); and
WHEREAS, as of the date hereof, all bonds and obligations to which tax increment from District No. 1-
2 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.1-2 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 COUNCIL OF PRIOR LAKE, MINNESOTA
that:
1. The recitals set forth above are incorporated herein.
2. City staff shall take such action as is necessary to cause the County Auditor of Scott County to
decertify the District No. 1-2 as a tax increment district and to no longer remit tax increment from
District 1-2 to the City.
PASSED AND ADOPTED THIS 20TH DAY OF DECEMBER, 2004.
Haugen X Haugen
Blomberg X Blomberg
LeMair X LeMair
Petersen X Petersen
Zieska X Zieska
YES
NO
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