HomeMy WebLinkAbout08-16 - ADMIN Resolution - Economic Development Authority - 2008/11/17ST. LOUIS PARK ECONOMIC DEVELOPMENT AUTHORITY
EDA RESOLUTION NO. 08-16
RESOLUTION AUTHORIZING EXECUTION OF A
TAX INCREMENT PLEDGE AGREEMENT WITH THE
CITY OF ST. LOUIS PARK RELATING TO
APPROXIMATELY $5,630,000 GENERAL OBLIGATION
TAX INCREMENT BONDS, SERIES 2008B
BE IT RESOLVED by the Board of Commissioners (the "Board") of the St. Louis Park
Economic Development Authority (the "Authority"), as follows:
1. The President and Executive Director of the Authority are hereby authorized to execute
and deliver a Tax Increment Pledge Agreement with the City of St. Louis Park, Minnesota (the "City")
substantially in the form on file in City Hall, providing for the pledge of tax increment for the payment
of the principal of, premium, if any, and interest on, the City of St. Louis Park, Minnesota General
Obligation Tax Increment Bonds, Series 2008B in the principal amount of approximately $5,630,000.
This resolution shall be effective as of the date hereof.
Reviewed or Administration: Adopted by the Economic Development
Authority November 17, 2008
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President
Attest
Secretary 67- 10,