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Home My WebLink About1996-197 .. . .. RESOLUTION NO. 96-197 A RESOLUTION DEFEASING TAX INCREMENT FINANCING DISTRICT NO.2 (NELLE PROJECT) AND TAX INCREMENT FINANCING DISTRICT NO.5 (BRICK POND PROJECT) WHEREAS, the plan for Tax Increment Financing District No.2 (Nelle Project) was approved and a Tax Increment Financing District established as of December 12, 1995; and, WHEREAS, as of February 21, 1989, the City determined to implement a master project concept in regard to Financing Districts located within Development District No.1; and WHEREAS, the objectives of the program and the plan for Tax Increment Financing District No. 2 have been satisfied and any Tax Increment pledges have been discharged; and WHEREAS, a Tax Increment Financing plan for Tax Increment Financing District No.5 was adopted and modified as of April 30, 1990; and, WHEREAS, the objectives of the Financing District have been satisfied and any Tax Increment pledge has been discharged; and, WHEREAS, with regard to Tax Increment Financing District No.2 and Tax Increment Financing District No.5, in each case the purposes for which the District and the plan were created have been satisfied. NOW, THEREFORE, BE IT RESOLVED AS FOLLOWS: 1. That Tax Increment Financing District No.2 (Nelle Project) and Tax Increment Financing District No.5 (Brick Pond Project) be and the same hereby are defeased and the City Attorney and the City Treasurer are directed to deliver this Resolution of Defeasance to the County Auditor and the Minnesota Department of Trade and Economic Development all effective for the tax year payable 1997. Enacted by the City Council of the City of Stillwater this 6th day of Au ATTEST: