2004-81
e
e
.
CITY OF CHANHASSEN
CARVER AND HENNEPIN COUNTIES, MINNESOTA
DA TE:
December 13. 2004
RESOLUTION NO:
2004-81
MOTION BY:
A votte
SECONDED BY:
LundQuist
A RESOLUTION AUTHORIZINIG INTERFUND
LOANS TO TIF DISTRICTS
WHEREAS, the City Council of the City of Chanhassen, Minnesota, previously
determined that it faced deficits in several Tax Increment Financing districts; and
WHEREAS, these state statutes require a resolution authorizing interfund loans; and
WHEREAS, these deficits will be cured through regular increment collections through
the statutory life of each district;
NOW, THEREFORE, BE IT RESOLVED by the City Council of Chanhassen,
Minnesota, as follows:
1.
Authorization: Findings. The City Council hereby amends the authorization for
interfund loans up to the amount listed for the following TIP districts:
District
Authorized Interfund Loan Amount
495 Gateway Tax Increment district
498 Presbyterian Homes Tax Increment District
$500,000
$100,000
Passed and adopted by the Chanhassen City Council this 13th day of December, 2004.
ATTEST:
tLA~
Thomas A. Furlong, Mayor
YES
NO
Furlong
Ayotte
Labatt
Lundquist
Peterson
None
None
1