HomeMy WebLinkAbout95-149 - ADMIN Resolution - City Council - 1995/10/161
RESOLUTION NO. 9 5 -14 9
RESOLUTION APPROVING SPECIAL LAW AS RECORDED IN MINNESOTA
STATUTES CHAPTER 264, ARTICLE 5, SECTION 36
WHEREAS the St. Louis Park City Council unanimously supported achieving special
legislation authorizing the City to extend the Excelsior Blvd. redevelopment project and Oak
Park Village tax increment financing district;
WHEREAS tax increments would no longer have been able to be used for any
purpose other than to retire bonds after the year 2001 in the district;
WHEREAS, the St. Louis Park City Council desires to continue to utilize tax
increments beyond the year 2001 until the year 2009 to assist in the redevelopment of sites
within each of these districts.
WHEREAS, the state legislature has authorized the extensions of these districts
after April 1, 2001 until August 1, 2009.
WHEREAS, the St. Louis Park City Council is required under Minnesota statutes
Section 469.1782 Subd. 2 and 645.021 Subd. 3 to approve, by resolution, the special law
which was passed by the legislature.
NOW THEREFORE, BE IT RESOLVED by the St. Louis Park City Council that it
approve the special legislation as recorded in Minnesota Statutes, Chapter 264, Article 5,
Section 36.
Adopted this 16th day of October, 1995.
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Revi ' ed for administration:
ager
7057:GEN54
Approved as to form and execution:
City Attorney