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<br /> - <br /> Memorandum - Tax Increment Pledge Agreement <br /> Page Two <br /> February 13, 1998 . <br /> . The City will sell bonds; <br /> . The bond sale proceeds will be made available to the EDA; and <br /> . All tax increment generated will be placed in a special fund by the EDA to be <br /> used to payoff thc principal and interest on the bonds. <br /> Recommendation <br /> Staff recommends that the EDA adopt Resolution #98-01, Authorizing Execution ofa Tax <br /> Increment Pledge Agreement with the City of Arden Hills Relating to $3,100,000 General <br /> Obligation Tax Increment Bonds, Series 1998A. <br /> BF /sls <br /> . <br /> . <br />