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EXTRACT OF A MEETING OF THE <br />CITY COUNCIL OF THE CITY OF <br />ROSEVILLE, MINNESOTA <br />HELD: July 13, 1987 <br />Pursuant to due call and notice thereof, a regular meeting <br />of the City Council of the City of Roseville, Ramsey County, <br />Minnesota, was duly called and held at City Hall in said City <br />on the 9th day of July, 1987, at p.m. for the purpose <br />of approving the establishment of Tax Increment Financing <br />District No. 9 and approving the Tax Increment Financing Plan <br />relating thereto and the modification of the Development Program <br />relating to Development District No. 1. <br />The following members were present: <br />and the following were absent: <br />Councilmember introduced the following <br />resolution, and moved its adoption: <br />RESOLUTION NO. <br />RESOLUTION ESTABLISHING TAX INCREMENT <br />FINANCING DISTRICT NO. 9 AND <br />APPROVING THE TAX INCREMENT FINANCING PLAN <br />RELATING THERETO AND APPROVING THE MODIFICATION <br />OF THE DEVELOPMENT PROGRAM RELATING TO <br />DEVELOPMENT DISTRICT NO. 1 <br />A. It has been proposed that the City establish Tax <br />Increment Financing District NO. 9 within Development District <br />No. 1 and approve and adopt a Tax Increment Financing Plan <br />and a modified Development Program with respect thereto, all <br />pursuant to and in accordance with Minnesota Statutes, Chapter <br />472A, as amended, and Minnesota Statutes, Sections 273.71 <br />to 273.78, inclusive, as amended (the "Tax Increment Financing <br />Act"). <br />B. The Council has investigated the facts and has caused <br />to be prepared a Tax Increment Financing Plan for Tax Increment <br />Financing District No. 9 and a modified Development Program <br />for Development District No. 1. <br />