Resolution - 16-14 - Decertifying TIF District No.1-2CITY OF SPRING PARK
COUNTY OF HENNEPIN
STATE OF MINNESOTA
RESOLUTION 16-14
A RESOLUTION DECERTIFYING
TAX INCREMENT FINANCING DISTRICT NO. 1-2
OF THE CITY OF SPRING PARK
WHEREAS, on September 20, 2004, the City of Spring Park (the "City") created its Tax
Increment Financing District No.1-2, (the "District") within its Development District (the
"Project"); and
WHEREAS, Minnesota Statutes, Section 469.174 to 469.179 authorizes the City Council
to decertify a tax increment financing district on any date after all bonds and other obligations have
been satisfied; and
WHEREAS, as of the date hereof all obligations to which tax increment from the District
have been pledged have been paid in full; and
WHEREAS, the City desires by this resolution to decertify the District effective September
19, 2016, by which all taxing jurisdictions will benefit from an increased tax base effective for
taxes payable in 2017; and
WHEREAS, the remaining excess tax increment in the account for the District will be
returned to the County Auditor for redistribution to the regular taxing jurisdictions;
NOW THEREFORE, BE IT RESOLVED by the City Council of the City of Spring Park
that it acknowledges such action was taken by the County Auditor of Hennepin County to decertify
the District as a tax increment district and to no longer remit tax increment from the District to the
City.
DATED: September 19, 2016
c
ruce Williamson, ayor
ATTEST:
Th6jksa Schyma, City Cler