HomeMy WebLinkAboutHRA Resolution No. 2000-04 Amending Maturing Date Temp TIF Bonds Series 1997B 4,9� A,41 HRA RESOLUTION NO. 2000-04
O� e
U)
O
�0 �y
•'~bRnMTF�
AMENDING MATURITY DATE OF THE GENERAL OBLIGATION ' Of Edina
TEMPORARY TAX INCREMENT BONDS, SERIES 1997B
BE IT RESOLVED by the Board of Commissioners of the Edina Housing and
Redevelopment Authority, Minnesota (the "HRA"), as follows:
Section 1. Recitals. The City of Edina (the "City")has previously issued its
General Obligation Temporary Tax Increment Bonds, Series 1997B in the principal amount
of up to $2,500,000 (the "Bonds") pursuant to Minnesota Statutes, Section
469.178,subdivision 5(a) to finance the costs of acquisition of property, the demolition of
existing structures located thereon and other site preparation costs to be undertaken by the
HRA as part of the Grandview Area Redevelopment Plan of the HRA. The Bonds were
purchased by the HRA from surplus funds on hand in the project fund for the 50`h and
France Tax Increment Financing District of the HRA (the "Fund") and the Bonds are held
as an asset of the Fund. The Bonds mature on August 15, 2000 and the City proposes to
extend the maturity date to November 15, 2000, and has requested the HRA, as the owner
of all the Bonds, to agree to such extension of maturity date.
Section 2. Approval of Extension of Maturity Date. The extension of the
maturity date on the Bonds to November 15, 2000 is hereby approved. The Chair and
Secretary of the HRA are authorized to execute an agreement with the City amending the
terms of the Bonds to extend the maturity date to November 15, 2000.
Adopted: ;August OQO.
s, r
ATTEST: o .
Executive Director Chair
STATE OF MINNESOTA )
COUNTY OF HENNEPIN )SS
CITY OF EDINA )
CERTIFICATE
I, the undersigned duly appointed and acting Executive Director for the City of Edina do hereby
certify that the attached and foregoing Resolution was duly adopted by the Edina Housing and
Redevelopment Authority at its Regular Meeting of August 1, 2000, and as recorded in the
Minutes of said Regular Meeting.
WITNESS my hand and seal of said City this day of , 20
•
Executive Director
City Hall (952) 927-8861
4801 WEST 50TI I STREET FAX(952)826-0390
EDINA, MINNESOTA 55424-1394 TDD(952)826-0379