HomeMy WebLinkAboutResolution No. 2000-076 Amending Maturity Date of the General Obligation Temporary Tax Increament Bonds, Series 1997B 49��1r� RESOLUTION NO. 2000-76
o� e
AMENDING MATURITY DATE OF THE GENERAL, City Of Edina
OBLIGATION TEMPORARY TAX INCREMENT BONDS,
SERIES 1997B
BE IT RESOLVED by the City Council of the City of Edina, Minnesota
(the "City"), as follows:
Section 1. Recitals. 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 Edina Housing
and Redevelopment Authority (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 5011, 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 the HRA, as the owner of all the Bonds, has agreed 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 Mayor and
City Manager are authorized to execute an agreement with the HRA amending the
terms of the Bonds to extend the maturity date to November 15, 2000.
aell
Adopted: ugust 1, 2000.
t
Attest , 'V r '� =Jtt=
Debra A. Mangen,-e-�itqclerk Dennis F. Maetzold, Mayor
STATE OF MINNESOTA )
COUNTY OF HENNEPIN )SS
CITY OF EDINA )
CERTIFICATE OF CITY CLERK
1, the undersigned duly appointed and acting City Clerk for the City of Edina do hereby
certify that the attached and foregoing Resolution was duly adopted by the Edina City
Council 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_.
City Clerk
City Hall (952) 927-8861
4801 WEST 50TH STREET FAX(952)826-0390
EDINA,MINNESOTA 55424-1394 TDD(952)826-0379