HomeMy WebLinkAbout92-03 - ADMIN Resolution - Economic Development Authority - 1992/09/08RESOLUTIONNO. EDA 92-3
RESOLUTION APPROVING CHAPTER 511, ARTICLE 9, SECTION 29
OF STATE LAW RELATIVE TO CREATION OF SPECIAL HAZARDOUS SUBSTANCE
TAX INCREMENT FINANCING SUBDISTRICT WITHIN THE EXCELSIOR BOULEVARD
REDEVELOPMENT PROJECT
WHEREAS, Chapter 511, Article 9, Section 29 of the Laws of the 1992 regular
session of the Minnesota Legislature authorizes the city of St. Louis Park or its
redevelopment agencies to create a hazardous substance subdistrict within the Excelsior
Boulevard redevelopment project that allows for spending tax increments derived
therefrom for a wider range of uses than that allowed under the general tax increment
financing act; and
WHEREAS, Subdivision 2 of Section 29 referred to above specifies that the law shall
not be effective without approval of the local government unit or units affected, by a
majority vote of all members of the governing body of the government unit or units;
WHEREAS, Subdivision 7 of Section 29 referred to above requires that the City,
before the start of the next Legislative Session, file a certificate stating the essential facts
necessary to valid approval and a copy of the resolution of approval, with the secretary of
state.
NOW THEREFORE BE IT RESOLVED by the Economic Development Authority of
St. Louis Park, that Chapter 511, Article 9, Section 29 of Minnesota Statute as enacted in
the 1992 Session of the Minnesota Legislature is hereby approved and the City Clerk is
hereby directed to prepare and file with the secretary of state the above described
certificate and a copy of this resolution.
ATTEST:
A/'--. 131Xl'�-7
Executive Director
92-511-EDA:RES6
Adopted by the Economic Development Authority of
St. Louis Park See teember 81 1992
esi ent
Approved as to form and execution: