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i <br /> increment financing districts to be created within the Development District <br /> to the EDA. <br /> NOW, THEREFORE, BE IT RESOLVED, that: <br /> 1. Pursuant to Section 469.094, subdivision 2 of the Act,the City <br /> Council hereby transfers the control,authority and operation of the <br /> Development District and all TIF Districts and future TIF Districts <br /> established within the Development District to the EDA(collectively,the <br /> "Projects"). <br /> 2. The transfer described herein is conditioned upon acceptance by <br /> the EDA of such transfer and a covenant and pledge by the EDA that the <br /> EDA is obligated to perform all agreements, pledges, covenants, and <br /> undertakings heretofore entered into by the City with respect to the <br /> Projects. <br /> The City Manager is authorized and directed to transmit a certified <br /> copy of this resolution to the Executive Director of the EDA, and to other <br /> governmental officers as appropriate. <br /> 4. The Mayor, City Manager, and all other officers and employees of <br /> the City are authorized and directed to take whatever action and to execute <br /> and deliver such documents that are necessary to give effect to this <br /> resolution. <br /> The motion for the adoption of the foregoing resolution was duly seconded by Member <br /> McGehee, and upon a vote being taken thereon,the following voted in favor thereof. <br /> Willmus, Etten, McGehee and Mayor Roe and the following voted against the same: none. <br /> WHEREUPON said resolution was declared duly passed and adopted. <br />