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The source of capitalization for local loanfimds varies, by community. Col iunities are <br />I <br />utilizm*g local sources through the use of excess general fLmd or munici. al utility reserves, Tax <br />I ip <br />Increment Fm"ancing reserves and partnerships with banks or utilities to capitalize local revolving <br />loan finids. <br />Lieu'' <br />tation lolf'Pow,eir's <br />4i i i I mi <br />The City, Council mav lace lftm"ts on the activities, of the, ED,A in the enab ing resolution. These <br />of p <br />ifirdtations, may be placed on, the power to issue general obligation or, revenue bonds, the power <br />to grant', or loan EDA ftmds, power to enter into lfim'ted partnerships, or any other specific power <br />over which the I se contro W 1 <br />,governing body w * shes, to exerci* L The following is a list of spec'fic <br />areas where the governing, body may exercise control (Mfiln. Stat. § 469.,092): <br />that the EDA may, not exercise any, specified power contam"ed in Minn. Stat. §§ 469.001 <br />to 4i6�91.047', 4i6�9.090 to 469.108, and 469.124 to, 4i69.,1,3,4 or that the EDA must not <br />s without the prior, approval of'the City Council. <br />exercilse any power <br />V, that, except when previously, pledged by the EDA, the City Council may by resolution <br />require the EDiA to transfer any portion of the reserves generated by activities of the EDA <br />that', the City Council determines is not, necessary for the successful operation of the <br />authonity to the debt service fimd, of the City, to be used solely to reduce tax levies for <br />Id, indebtedness of'the City; <br />30 <br />