Res 01-03H MOUN-D ~
RESOLUTION NO. 01-03H
RESOLUTION REGARDING PENDING
LITIGATION
WHEREAS, the City of Mound has established Development District No. 1 ("Project
Area") under the authority of Minnesota Statutes, Chapter 469 (the "Act"), and in accordance with
the provisions of the Act has established within the Project Area the Tax Increment Financing
District No. 1-2 CTIF District") and adopted a Tax Increment Financing Plan ("hereinafter defined
as the "Tax Increment Plan") for the TIF District to facilitate the financing of public development
and redevelopment costs in the Project Area; and
WHEREAS, the Housing and Redevelopment Authority in and for the City of Mound,
Minnesota (the "HRA") is a public body corporate and politic operating under Minnesota Statutes
sections 469.001 to 469.047; and
WHEREAS, the HRA deems it to be in the public interest to facilitate and encourage
redevelopment of the Project Area by a combination of public and private activity within the Project
Area and in accordance with the Tax Increment Plan as adopted by the City; and
WHEREAS, the HRA and MetroPlains Development LLC (the "Redeveloper") have
entered into a Contract for Private Redevelopment (the "Contract") providing for the
redevelopment of a tract of land within such Project Area (the "Property") that the HRA believes
will promote and carry out the objectives for which redevelopment is undertaken, will be in the
vital best interests of the City, will promote the health, safety, morals, and welfare of its residents
and will be in accord with the public purposes and provisions of the applicable state and local
laws and requirements under which activities within the Project Area have been undertaken and
are being assisted; and
WHEREAS, the I-IRA has been informed that litigation has been commenced with respect
to the Property drawing into question the right, power or authority of the HRA to redevelop the
Property, to carry out its obligations under the Contract; and
WHEREAS, the HRA deems that the pendency of the litigation might directly or indirectly
impair its borrowing power, including the ability to issue the note provided for in the Contract,
increase the cost of the development, or otherwise be injurious to the public interest.
NOW, THEREFORE, be it resolved by the Housing and Redevelopment Authority that the
HRA hereby authorizes its legal representatives to take such actions as are necessary and
appropriate including without limitation moving the court in which the litigation is pending to
require the party who instituted the litigation to give a surety bond as required by law.
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MLr2ffi-89
Passed by the Housing and Redevelopment Authority of the City of Mound, Minnesota this
13th day of March, 2001.
ATTEST:
Kan~is M. Hanson, E~eeutive Director
JBD-19451Bvl
MU2004~9