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ANDOVER ECONOMIC DEVELOPMENT AUTHORITY
\ COUNTY OF ANOKA
'- / STATE OF MINNESOTA
RESOLUTION NO. 002-QS
A RESOLUTION MODIFYING THE DEVELOPMENT PROGRAM FOR DEVELOPMENT
DISTRICT NO. 1 AND THE TAX INCREMENT FINANCING PLANS FOR TAX
INCREMENT FINANCING DISTRICTS NO. 1-1 AND NO. 1-2 TO REFLECT
INCREASED GEOGRAPHIC &~EA AND INCREASED PROJECT COSTS WITHIN
DEVELOPMENT DISTRICT NO. 1
BE IT RESOLVED by the Board of Commissioners (the
"Commissioners") of the Andover Economic Development Authority
(the " EDA" ) , as follows:
Section 1. Recitals.
1.0lo It has been proposed that the EDA modify, approve and
adopt a Modified Development Program relating to Development
District No. 1 to reflect increased geographic area and increased
project costs pursuant to and in accordance with Minnesota
Statutes/ Sections 469.124 to 469.134, inclusive, and 469.090 to
'- 469.108/ inclusive, as amended and supplemented from time to
time.
',J 1.02. It has been further proposed that the EDA modify,
approve and adopt Modified Tax Increment Financing Plans for Tax
Increment Financing Districts No. 1-1 and No. 1-2 to reflect
increased geographic area and increased project costs within
Development District No. 1 pursuant to and in accordance with
Minnesota Statutes, Section 469.174 to 469.179 and 469.090 to
460.108, inclusive, as amended and supplemented from time to
time.
1.03. The EDA has investigated the facts and has caused to
be prepared with respect thereto, a Modified Development Program
for Development District No. 1 and Modified Tax Increment
Financing Plans for Tax Increment Financing Districts No. 1-1 and
No. 1-2 to reflect increased geographic area and increased
project costs within Development District No. lo
1.04. The EDA has performed all actions required by law to
be performed prior to the modification, approval and adoption of
the Modified Development Program and Modified Tax Increment
Financing Plans.
1.05. The EDA h~reby determines that it is necessary and in
the best interests of" the City and the EDA at this time to
modify, approve and adopt the Modified Development Program and
the Modified Tax Increment Financing Plans to reflect increased
geographic area and increased project costs within Development
0 D.istrict No. 1.
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Section 2. Findinqs.
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, ) 2.01. The EDA hereby finds that the assistance to be
provided through the adoption and the implementation of the
Modified Development Program and Modified Tax Increment Financing
Plans are necessary to assure the development and redevelopment
of Developmen~ District No.1.
2.02. The EDA hereby finds that the Modified Development
Program and Modified Tax Increment Financing Plans conform to the
general plan for the development and redevelopment of the City as
a whole.
2.03. The EDA hereby finds that the Modified Development
Program and Modified Tax Increment Financing Plans afford maximum
opportunity consistent with the sound needs of the City as a
whole for the development and redevelopment of Development
District No. 1 by private enterprise and it is contemplated that
the develoDment and redeveloDment thereof will be carried out
pursuant tò redevelopment coñtracts with private developers.
Section 3. Modification, ADDroval and AdoDtion of the
Modified DeveloDment Proaram.
3.01. The modifications to the Development Program for
Development District No. 1 reflecting increased geographic area
and increased project costs are hereby approved and adopted by
, ) the Commissioners of the EDA and are forwarded to the Andover
, City Council for public hearing, review and approval.
Section 4. Modification, ADDroval and AdoDtion of the,
Modified Tax Increment Financinq Plans.
4.01. The modifications to the Tax Increment Financing
Plans for Tax Increment Financing Districts No. 1-1 and No. 1~2
reflecting increased geographic area and increased project costs
within Development District No. 1 are hereby approved and adopted
by the Commissioners of the EDA and are forwarded to the &~dover
City Council for public hearing, review and approval.
Section 5. Filina of Plans.
5.01. Upon approval and adoption of the Modified
Development Program and Modified Tax Increment Financing Plans
(collectively the "Plans"), the EDA shall cause said Plans to be
filed with the Minnesota Department of Revenue.
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Adopted by the Commissioners of the EDA this 21st day of
\ February, 1995.
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C irman
ATTEST:
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CERTIFICATION
I, Richard Fursman , Executive Director of the Andover
Economic Development Authority, County of Anoka, Minnesota,
hereby certify that the foregoing is a true and correct copy of
Resolution No. 002-95 passed by the EDA on the 21st day of
February, 1995.
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, xecutlve Dlrector
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ANDOVER ECONOMIC DEVELOPMENT AUTHORITY
\ COUNTY OF ANOKA
) STATE OF MINNESOTA
RESOLUTION NO. 003-95
A RESOLUTION AMENDING THE BYLAWS
OF THE ANDOVER ECONOMIC DEVELOPMENT AUTHORITY
BE IT RESOLVED by the Board of Commissioners (the
"Commissioners") of the Andover Economic Development Authority
(the "EDA"), as follows:
Section 1. The By-Laws of the Andover Economic Development
authority (the "By-Laws") shall be amended by inserting Section
4.12 Tax Increment EXDenditures.
Section 4.12 Tax Increment Expenditures. The expenditure
of any tax increment generated from Tax Increment Financing
District No. 1-1 or Tax Increment Financing District No. 1-2
shall be approved (1) by a four-fifth (4/5) vote of the Board if
the expenditure is for tax increment eligible improvements
located within the area designated on the attached map; or, (2)
by a majority vote of the Board if the expenditure is for tax
~ increment eligible improvements located within the area
designated on the attached map.
\ ) Adopted by the Commissioners of the EDA this 21st day of
February, 1995.
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// Chairman . r7
ATTEST: ~¡ v
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CERTIFICATION
I, Richard Fursman I Executive Director of the Andover
Economic Development Authority, County of Anoka, Minnesota,
hereby certify that the foregoing is a true and correct copy of
Resoldtion No. 003-95 passed by the EDA on the 21st day of
February, 1995. æ
;¡ ~ ~rector
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ECONOMIC DEVELOPMENT AUTHORITY
IN AND FOR THE
CITY OF ANDOVER
COUNTY OF ANORA
STATE OF MINNESOTA
RES. NO. R 004-95
A RESOLUTION ·APPOINTING OFFICERS FOR THE ECONOMIC DEVELOPMENT
AUTHORITY.
BE IT RESOLVED by the Board of Commissioners of the Andover
Economic Development Authority as follows:
1. Appointment of Officers. In accordance with Minnesota
Statutes, Section 469.090, the Board hereby appoints to the
following offices of the EDA the following persons, respectively:
President Jack McKelvey
Vice President Don Jacobson
\ Secretary Mikp- Knight
Treasurer Ronnip Dphn
Assistant Treasurer John Kunza
Adopted by the Board of the EDA this 21 st day of Fp-bruary ,
19 95.
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¡/president .
Attest:
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EXTRACT OF MINUTES OF A MEETING OF THE
ECONOMIC DEVELOPMENT AUTHORITY OF THE
\ CITY OF ANDOVER, MINNESOTA
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HELD: August 1, 1995
Pursuant to due call and notice thereof, a regular meeting
of the Economic Development Authority of the City of Andover,
Anoka County, Minnesota, was duly held at the City Hall in said
city on the 1st day of August, 1995 at 7:00 p.m. for the purpose
in part of authorizing the competitive negotiated sale of the
$6,055,000 General Obligation Tax Increment Bonds, Series 1995D
of said city. ~ I
The following members were present: ~ .~~~
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Dehn, Jacobson, Knight, Kunza, MCKelve~
and the following were absent:
None
EDA Member Jacobson introduced the following
resolution and moved its adoption:
RESOLUTION PROVIDING FOR THE COMPETITIVE NEGOTIATED
SALE OF $6,055,000
\ GENERAL OBLIGATION TAX INCREMENT BONDS,
\_~ . SERIES 1995D
RES. NO. 005-95
A. WHEREAS, the Economic Development Authority of the City
of Andover, Minnesota, ahs heretofore determined that it is
necessary and expedient to issue its $6,055,000 General
Obligation Tax Increment Bonds, Series 1995D (the "Bonds") to
finance capital and administration costs associated with various
improvement projects within a municipal development district of
the City; and
B. WHEREAS, the City has retained Springsted Incorporated,
in Saint Paul, Minnesota ("Springsted"), as its independent
financial advisor and is therefore authorized to sell these
obligations by a competitive negotiated sale in accordance with
Minnesota statutes, Section 475.60, Subdivision 2(9); and
NOW, THEREFORE, BE IT RESOLVED by the Economic Development
Authority of the City of Andover, Minnesota, as follows:
1. Authorization; Findings. The Economic Development
Authority hereby authorizes Springsted to solicit bids for the
competitive negotiated sale of the Bonds.
2. Meeting; Bid Opening. The Economic Development
" ' , \ Authority shall meet at the time and place specified in the Terms
\. ) of Proposal attached hereto as Exhibit A for the purpose of
considering sealed bids for, and awarding the sale of, the Bonds.
The Clerk or her designee, shall open bids at the time and place
specified in such Terms of proposal.
3. Terms of Proposal. The terms and conditions of the
Bonds and the negotiation thereof are fully set forth in the
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"Terms of Proposal" attached hereto as Exhibit A and hereby
approved and made a part hereof.
',J 4. Official statement. In connection with said competitive
negotiated sale, the Clerk and other officers or employees of the
City are hereby authorized to cooperate with Springsted and
participate int he preparation of an official statement for the
Bonds, and to execute and deliver it on behalf of the City upon
its completion.
The motion for the adoption of the foregoing resolution was
duly seconded by EDA Member Dehn , and after full discussion
thereof and upon a vote being taken thereon, the following voted
in favor thereof:
Dehn, Knight, Kunza, Jacobson, McKelvey
and the following voted against the same:
None
Whereupon said resolution was declared duly passed and adopted.
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THE CITY HAS AUTHORIZED SPRlNGSTED INCORPORATED TO NEGOTIATE THIS
ISSUE ON ITS BEHALF. PROPOSALS WILL BE RECEIVED ON THE FOLLOWING BASIS:
~~ TERMS OF PROPOSAL
$6.055,000
CITY OF ANDOVER, MINNESOTA
GENERAL OBLIGATION TAX INCREMENT BONDS, SERIES 19950
(BOOK ENTRY ONLY)
Proposals for the Bonds will be received on Tuesday, September 19, 1995, until 11:00 AM..
Central Time. at the offices of Springsted Incorporated, 85 East Seventh Place, Suite 100. Saint
Paul. Minnesota, after which time they will be opened and tabulated. Consideration for award
of the Bonds will be by the City Council at 7:00 P.M., Central Time, of the same day.
SUBMISSION OF PROPOSAlS
Proposals may be submitted in a sealed envelope 0( by fax (612) 223-3002 to Springsted.
Signed Proposals, without final pñœ or coupons, may be submitted to Springsted prior to the
time of sale. The bidder shall be responsible for sUbmitting to Springsted the final Proposal
price and coupons, by telephone (612) 223-3000 or fax (612) 223-3002 for indusion in the
submitted Proposal. Spñngsted will assume no liability for the inability of the bidder to reach
Springsted prior to the time of sale specified above. Proposals may also be filed electronically
via PARITY, in accordance with PARITY Rules of Participation and the Terms of Proposal,
() within a one-hour period prior to the time of sale estabrrshed above, but no Proposals will be
received after that time. If provisions in the Tenns of Proposal conflict with the PARITY Rules
of Participation, the Terms of Proposal shall control. The normal fee for use of PARITY may be ,
obtained from PARITY and such fee shall be the responsibility of the bidder. For further
information about PARITY, potential bidders may contact PARITY at 100 116th Avenue BE,
Suite 100, Bellevue, Washington 98004, telephone (206) 635-3545_ Neither the City nor
Springsted Incorporated assumes any liability if there is a malfunction of PARITY. All bidders
are advised that each Proposal shall be deemed to constitute a contract between the bidder
and the City to purchase the Bonds regardless of the manner of the Proposal submitted.
DETAILS OF THE BONDS
The Bonds will be dated October 1, 1995, as the date of original issue, and will bear interest
payable on February 1 and August 1 of each year, commencing February 1, 1996_ Interest will r
be computed on the basis of a 36O-day year of twelve 3CHtay months. ;
The Bonds will mature February 1 in the years and amounts as follows: !
1996 $ 75,000 2001 $200,000 2006 $425,000 2010 $525,000 ;
1997 $100.000 2002 $225.000 2007 $450,000 2011 $575,000
1998 $130,000 2003 $225,000 2008 $475,000 2012 $600,000
1999 $150,000 2004 $250.000 2000 $500,000 2013 $625,000
2000 $175,000 2005 $350,000
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BOOK ENTRY SYSTEM
CJ The Bonds will be issued by means of a book entry system with no physical distribution of
Bonds made to the public. The Bonds will be issued in fully registered form and one Bond,
representing the aggregate principal amount of the Bonds maturing in each year. will be
registered in the name of Kray & Co. as nominee of Midwest Sewrities Trust Company
C'MSTC·1. Chicago. Illinois, which will ad as securities depository of the Bonds_ Individual
purchases of the Bonds may be made in the principal amOW1t of $5,000 or any multiple thereof
of a single maturity through book entries made on the books and records of MSTC and its
participants. Prinåpal and interest are payable by the registrar to MSTC or its nominee as
registered owner of the Bonds. Transfer of pñnåpal and interest payments to participants of
MSTC will be the responsibility of MSTC; transfer of principal and interest payments to
benefiåal owners by participants will be the responsibility of such participants and other
nominees of beneficial owners. lño purchaser. as a condition of delivery of the Bonds, will be
required to deposit the Bonds with MSTC.
REGISTRAR
The City will name the registrar which shall be subject to applicable SEC regulations. The City
will pay for the services of the registrar.
OPTIONAL REDEMPTION
The City may eled on February 1, 2005, and on any day thereafter, to prepay Bonds due on or
after February 1 t 2006. Redemption may be in whole or in part and if in part at the option of the
City and in such manner as the City shall determine. If less than all Bonds of a maturity are
called for redemption, the City will notify MSTC of the particular amount of such maturity to be
prepaid_ MSTC will determine by lot the amount of each participant's interest in such maturity
to be redeemed and each participant will then select by lot the beneficial ownership interests in
U such maturity to be redeemed. All prepayments shall be at a price of par plus accrued interest.
SECURITY AND PURPOSE
The Bonds will be general obligations of the City for which the City will pledge its full faith and
credit and power to levy direct general ad valorem taxes. In addition the City will pledge tax
increment income collected from the City's Tax Increment Districts No. 1-1 and No. 1-2. The
proceeds will be used for various public improvement projects.
TYPE OF PROPOSALS
Proposals shall be for not less than $5.964.175 and accrued interest on the total principal
amount of the Bonds. Proposals shall be accompanied by a Good Faith Deposit ("Deposif1 in
the form of a certified or cashier's check or a Financial Surety Bond in the amount of $60,550,
payable to the order of the City. If a check is used, it must accompany each proposal. If a ;
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Financial Surety Bond is used, it must be from an insurance company licensed to issue such a
bond in the State of Minnesota. and preapproved by the City. Such bond must be submitted to ;
Springsted Incorporated prior to the opening of the proposals. The Financial Surety Bond must
identify each underwriter whose Deposit is guaranteed by such Financial Surety Bond. If the
Bonds are awarded to an underwriter using a Financial Surety Bond, then that purchaser is
required to submit its Deposit to Springsted Incorporated in the fonn of a certified or cashier's
check or wire transfer as instructed by Springsted Incorporated not later than 3:30 P.M., Central
Time, on the next business day following the award. If such Deposit is not received by that
time. the Financial Surety Bond may be drawn by the City to satisfy the Deposit requirement.
The City will deposit the check of the purchaser, the amount of which will be deducted at
settlement and no interest will accrue to the purchaser. In the event the purchaser fails to
0 comply with the accepted proposal, said amount will be retained by the City. No proposal can
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be withdrawn or amended after the time set for receiving proposals unless the meeting of the ¡
Cìty scheduled for award of the Bonds is adjourned, recessed. or continued to another date
without award of the Bonds having been made. Rates shall be in integral multiples of 5/100 or ,
(,J 1/8 of 1%. Rates must be in ascending order. Bonds of the same maturity shall bear a single
rate from the date of the Bonds to the date of maturity. No conditional proposals Will be
accepted.
AWAAD
The Bonds will be awarded on the basis of the lowest interest rate to be determined on a true
interest cost (TIC) basis. The City's computation of the interest rate of each proposal, in
accordance with customary practice, will be controlling.
The City will reselVe the right to: (i) waive non-substantive informalities of any proposal or of
matters relating to the receipt of proposals and award of the Bonds, (ii) reject all proposals
without cause, and, (iii) reject any proposal Which the City detennines to have failed to comply
with the terms herein.
BOND INSURANCE AT PURCHASER'S OPTION
If the Bonds qualify for issuance of any poncy of municipal bond insurance 0( commitment
therefor at the option of the undelWliter, the purchase of any such insurance policy or the
issuance of any such commitment shall be at the sole option and expense of the purchaser of
the Bonds. Any increased costs of issuance of the Bonds resulting from such purchase of
insurance shall be paid by the purchaser, except that, if the City has requested and received a
rating On the Bonds from a rating agency, the City will pay that rating fee. Any other rating
agency fees shall be the responsibility of the purchaser.
Failure of the municipal bond insurer to issue the policy after Bonds have been awarded to the
,- '" purchaser shall not constitute cause for failure or refusal by the purchaser to accept delivery on
\.~ the Bonds.
CUSIP NUMBERS
If the Bonds qualify for assignment of CUSIP numbers such numbers will be printed on the ,
Bonds, but neither the failure to print such numbers on any Bond nor any error with respect
thereto will constitute cause for failure or refusal by the purchaser to accept delivery of the
Bonds. The CUSIP SelVice Bureau charge for the assignment of CUSIP identification numbers
shall be paid by the purchaser.
SETTLEMENT
Within 40 days following the date of their award, the Bonds will be delivered without cost to the
purchaser at a place mutually satisfadory to the City and the purchaser. Delivery wm be
subject to receipt by the purchaser of an approving legal opinion of Briggs and Morgan,
Professional Association, of Saint Paul and Minneapolis, Minnesota, and of customal)" closing
papers, including a no-litigation certificate. On the date of settlement payment for the Bonds
shall be made in federal, or equivalent, funds which shall be received at the offices of the City
or its designee not later than 12:00 Noon, Central Time. Except as compliance with the terms
of payment for the Bonds shall have been made impossible by action of the City, or its agents,
the purchaser shalt be liable to the City for any loss suffered by the City by reason of the
purchaser's non-compliance with said terms for payment
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CONTINUING DISCLOSURE
í " The City will covenant in the resolution awarding the sale of the Bonds and in a Continuing
') Disclosure Certificate to provide, or cause to be provided, annual financial intonnation, including
"- ./ audited financial statements of the City, and notices of certain material events, as required by
SEe Rule 1SC2-12.
OFFICIAl STATEMENT
The City has authorized the preparation of an Official Statement containing pertinent
information relative to the Bonds, and said Ofñcial statement wiJl serve as a nearly-final Official
Statement within the meaning of Rule 15c2-12 of the Securities and Exchange Commission.
For copies of the Official Statement or for any additional information pñor to sale, any
prospective purchaser is referred to the Financial Advisor to the City, Spñngsted Incorporated,
85 East Seventh Place, Suite 100, Saint Paul, Minnesota 55101, telephone (612) 223-3000.
The Official Statement. when further supplemented by an addendum or addenda specifying the
matuñty dates, principal amounts and interest rates of the Bonds, together with any other
information required by law, shall constitute a "Final Official Statement" of the City with respect
to the Bonds, as that term is defined in Rule 15c2-12. By awarding the Bonds to any
underwriter or underwriting syndicate submitting a proposal therefor, the City agrees that, no
more than seven business days after the date of such award, it shall provide without cost to the
senior managing underwriter of the syndicate to which the Bonds are awarded 240 copies of
the Official Statement and the addendum or addenda described above. The City designates
the senior managing underwñter of the syndicate to which the Bonds are awarded as its agent l
for purposes of distributing copies of the Final Official Statement to each Participating ;
Underwriter. My underwriter delivering a proposal with respect to the Bonds agrees thereby ;
that if its proposal is accepted by the City (i) it shall accept such designation and (ii) it shall
enter into a contractual relationship with all Participating Underwriters at the Bonds for purposes
r-' '\ of assuñng the receipt by each sud1 Participating UndelWfiter of the Final Official Statement.
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Dated August 1, 1995 BY ORDER OF THE CITY COUNCIL
Is! Victoña Volk
Clerk
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STATE OF MINNESOTA
COUNTY OF ANOKA
CITY OF ANDOVER
I , the undersigned, being the duly qualified and acting
City Clerk of the City of Andover, Minnesota, DO HEREBY CERTIFY
that I have compared the attached and foregoing extract of
minutes with the original thereof on file in my office, and that
the same is a full, true and complete transcript of the minutes
of a meeting of the Economic Development Authority of said City,
duly called and held on the date therein indicated, insofar as
such minutes relate to the City's $6,055,000 General
\--.' J Obligation Tax Increment Bonds, Series 1995D.
WITNESS my hand this 1st day of August, 1995.
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Clerk
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EXTRACT OF MINUTES OF A MEETING OF THE
ECONOMIC DEVELOPMENT AUTHORITY OF THE CITY OF
) ANDOVER, MINNESOTA
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HELD: August 1, 1995
Pursuant to due call and notice thereof, a regular meeting
of the Economic Development Authority of the City of Andover,
Anoka County, Minnesota, was duly held at the City Hall on
Tuesday, the 1st day of August, 1995 at 7:00 o'clock pm for the
purpose of calling a public hearing on the City's development ~
district. ~ ~
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The following EDA members were present: ~~ . f\~
Jacobson, Dehn, Knight, Kunza, McKelvey ~~
and the following were absent: ~
None
EDA Member Jacobson introduced the following
resolution and moved its adoption:
tUTION CALLING PUBLIC HEARING ON THE PROPOSED
ADOPTION OF A MODIFICATION OF THE
DEVELOPMENT PROGRAM FOR
DEVELOPMENT DISTRICT NO. 1, AND
\ THE PROPOSED ADOPTION OF A MODIFICATION OF
',-) THE TAX INCREMENT FINANCING PLANS FOR TAX
INCREMENT FINANCING DISTRICTS NOS. 1-1 AND 1-2
RES. NO.006-95
BE IT RESOLVED by the Economic Dèvelopment Authority (the
"EDA") of the City of Andover, Minnesota (the "City"), as
follows:
1. Public Hearing. The EDA shall meet on Tuesday,
September 5, 1995 at approximately 7:00 p.m. to hold a public
hearing on the following matters: (a) the proposed adoption of a
Modification of the Development Program for Development District
No. 1, and (b) the proposed adoption of a Modification of the Tax
Increment Financing plans for Tax Increment Financing Districts
Nos. 1-1 and 1-2, all pursuant to and in accordance with
Minnesota Statutes, Sections 469.174, both inclusive, as amended
(collectively, the "Act").
2. Notice of Hearing; Filing of Program Modification and
Plan Modification. The City Clerk is hereby authorized to cause
a notice of the hearing, substantially in the form attached
hereto as Exhibit A, to be published as required by the Act and
to place a copy of the proposed Modification of the Development
Program and Modification of the Development Program and
/ \ Modification of the Tax Increment Financing Plans on file in the
'. ./ Clerk's Office at City Hall and to make such copies available for
inspection by the public.
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, \ The motion for the adoption of the foregoing resolution was
, ) duly seconded by EDA Member Dehn and upon vote being taken
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thereon, the following voted in favor
McKelvey, Dehn, Knight, Kunza, Jacobson
and the following voted against the same:
None
Whereupon said resolution was declared duly passed and adopted.
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EXHIBIT A
:_~) CITY OF ANDOVER
COUNTY OF ANOKA
STATE OF MINNESOTA
NOTICE OF PUBLIC HEARING
NOTICE IS HEREBY GIVEN that the Economic Development
Authority (the "EDA" ) of the City of Andover, County of Anoka,
State of Minnesota, will hold a public hearing on Tuesday,
September 5, 1995 at 7:00 p.m., at the Andover City Hall, 1685
Crosstown Boulevard Northwest, in the City of Andover, Minnesota,
relating to the adoption of a Modification of the Development
Program for Development District No. 1, and the adoption of a
Modification of the Tax Increment Financing plans for Tax
Increment Financing Districts Nos. 1-1 and 1-2, within
Development District No. 1, pursuant to Minnesota Statutes,
r \ Section 469.174 through 469.179, inclusive as amended. Copies
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of the Modification of the Development Program and Modification
of the Tax Increment Financing plans as proposed to be adopted
will be on file and available for public inspection at the office
of the City Clerk at City Hall.
A map of Development District No. 1, and Tax Increment
Financing Districts Nos. 1-1 and 1-2 is set forth below:
All interested persons may appear at the hearing and present
their view orally or in writing.
Dated: August 1, 1995
BY ORDER OF THE ECONOMIC DEVELOPMENT
AUTHORITY
/s/ Victoria Volk
'\ Clerk
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,/ ) CITY OF ANDOVER U
'-- COUNTY OF ANOKA
STATE OF MINNESOTA
RES. NO. 007-95
\ MOTION by Economic Development Authority Member Knight to
, J adopt the following:
A RESOLUTION RECEIVING FEASIBILITY REPORT AND CALLING PUBLIC HEARING
ON IMPROVEMENTS OF STREETS, SANITARY SEWER, WATERMAIN, STORM DRAIN
AND APPURTENANCE , PROJECT NO. 94-33 IN THE
COMMERCIAL BOULEVARD EXTENSION AREA.
WHEREAS, pursuant to Resolution No. 019-94 , adopted the 20th
day of December , 19 94 , a Feasibility Report has been
prepared by TKDA for the improvements; and
WHEREAS, such report was received by the Economic Development
Authority on the 1st day of August , 19 95 ; and
WHEREAS, such report declared the proposed improvement to be
feasible for an estimated cost of $ 1,200,000.00 .
NOW, THEREFORE, BE IT RESOLVED by the Economic Development
Authority of the City of Andover that:
1. The Economic Development Authority hereby accepts the
Feasibility Report for Project No. 94-33 , for the
improvements.
2. The EDA will consider the improvements in accordance
with the report and the assessment of abutting property
\. ) for all or a portion of the improvement pursuant to
- Minnesota Statutes Chapter 429 at an estimated total cost
of the improvement of $ 1,200,000.00 .
3. A public hearing shall be held on such proposed
improvement on the 5th day of September ,19 95 in
the Council Chambers of the City Hall at 7:00 PM and the
Clerk shall give mailed and published notice of such
hearing and improvement as required by law.
MOTION seconded by EDA Member Jacobson and adopted by the
- Economic Development Authority at a regular meeting this 1st day
of August , 19 95 , with EDA Members McKelvey, Knight,
-
Jacobson, Dehn, Kunza (absent)voting in favor of the resolution, and
EDA members none voting against, whereupon said
resolution was declared passed.
CITY OF ANDOVER
\__/ ATTEST: ent
() (j
,--j
ECONOMIC DEVELOPMENT AUTHORITY
/ IN AND FOR THE
I CITY OF ANDOVER
\
, '. COUNTY OF ANOKA
\ ;
, ~/
STATE OF MINNESOTA
RES. NO. R- 008-95
RESOLUTION ADOPTING THE 1996 ECONOMIC DEVELOPMENT FUND BpI)GET.
.
WHEREAS, the preparation and adoption of operating budgets is recognized a sound financial
practice; and
WHEREAS, the Board of Commissioners has the responsibility to appropriately and efficiently
manage the funds of the Authority;
NOW, THEREFORE, BE IT RESOLVED that the Board of Commissioners of the Andover
Economic Development Authority hereby establishes the 1996 Economic Development budget as
submitted in the amount of $83,700.
Adopted by the Andover Economic Development Authority Board of Commissioners on this 19th day
of December, 1995.
(,- . {. )J1v
." "
<.-J
.E. McKelvey, Pr
A TIEST: [
i
!k(d~i{/(A+ j
Michael Kni
,. ".
,,"
(.j/