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RESOLUTION NO. 7468
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A RESOLUTION REQUESTING THE COUNTY
AUDITOR TO CERTIFY THE ORIGINAL ASSESSED
VALUE OF THE REAL PROPERTY WITHIN THE
BOUNDARY OF THE STD..LWATER TAX INCREMENT
FINANCING REDEVELOPMENT DISTRICT.
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WHEREAS, the City Council of the City of Stillwater has determined that It
Is necessary IIJld desirable IIJld In the pubUc Interest to designate, establish,
develop, and administer a tax Increment financing redevelopment district pursuont
to the provisions ot Minnesota Statutes, Section 273.71 to 273.78 inclusive;
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCn. OF THE
CITY OF STD..LWATER, MINNESOTA that the Washington County Auditor is
hereby requested to certify the assessed value of all real property within the
boundaries of the tax Increment redevelopment district as described In the
attached tax Increment financing plan as of the date of the last equalized
u"l!'lIIment, and each year hereafter to certify the amount by which the assessed
value has Increued or decreased from the original assessed value and also to
certify the proportion which IIJlY Increase or decrease bears to the total a~.sed
value for the real property In said tax Increment financing district for that year,
and also to remit to the City of Stlllwater each year hereafter, that proportion of
all taxes paid that year on real property In the district which the captured a__ed
value bears to the total current asseslM.'d value, all pursuant to Minnesota Statutes.
Section 273.78, lkIbdlvislon 1 and 2. 'DIe current a.e.ed value shall exclude
fiscal I commerclal-lndustrlal value between the or al
ear current ear m e ra term
Pll1'llWlJ1t to on
Adopted this 7th day of May, 1985.
Publish May 13, 1985
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