HomeMy WebLinkAbout7550 (Res.)
o
n
(1
RESOLUTION NO. 7550
A RESOLUTION REQUESTING THE COUNTY
AUDITOR. TO CERTIFY THE ORIGINAL ASSESSED
VALUE OF THE REAL PROPERTY WITHIN THE
BOUNDARY OF THE STILLWATER TAX INCREMENT
FINANCING DISTRICTS NOS. 2 AND 3.
WHEREAS, the City Councn ot the City of StWwater has determined that It
is nec8888l'Y and desirable and in the public Interest to establish a tax increment
financing redevelopment district and a tax Increment financing housing district
pursuant to the provisions of MiMesota Statutes, Section 273.71 to 273.78
Inclusive;
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE
CITY OF STILLWATER, MINNESOTA that the Washington County Auditor is
hereby requested to certify the assessed value of III real property within the
boundaries ot the tax Increment redevelopment district (District 12) and the tax
Increment financing housing district (District 13) as described In the attached tax
Increment financing plan as ot the date of the last equalized assessment, and each
year hereatter to certity the amount by which the assessed value has Increased or
decreased from the original assessed vahle and also to certity the proportion which
any Increase or decrease bears to the totalU8essed value for the real property In
said tax Increment financing district tor that year, and also to remit to the City of
Stillwater each year hereatter, that proportion ot III taxes paid that year on real
property In the district which the captured assessed value bears to the' total
current assessed value, all pursuant to MiMesota Statutes, Section 273.78,
!hbdivislon 1 and 2.
Adopted this 17th day ot December, 1985.
Published: December 27, 1985
4'~ J2/~~/
- . Mayor
A'M'EST:
~o~~.
( ty