RES 17-97CITY OF OTSEGO
COUNTY OF WRIGHT
STATE OF MINNESOTA
RESOLUTION NO: 2017-97
AUTHORIZING THE DECERTIFICATION OF
TAX INCREMENT FINANCING DISTRICT NO.2
WHEREAS, on June 12, 2017, the City of Otsego (the "City") created its Tax Increment Financing
District No. 2 (the "District") within its Municipal Development District No, 1 (the "Project"); and
WHEREAS, as of the date hereof no bonds or obligations to which tax increment from the district have
been pledged have been issued; and
WHEREAS, the City wishes to decertify the District pursuant to Minnesota Statutes, section 469.177,
subdivision 12 effective on December 31, 2017; and
WHEREAS, the City desires by this resolution to cause the decertification of the District after which all
property taxes generated within the District will be distributed in the same manner as all other property
taxes.
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF OTSEGO,
MINNESOTA:
That the City Administrator is authorized and directed to provide Wright County with documents related
to decertification of the District, to submit Confirmation of Decertified TIF District form to the Office of
the State Auditor and take any other steps necessary required for a decertification date of December 31,
2017.
ADOPTED by the Otsego City Council this 27th day of November, 2017.
CITY OF OTSEGO
'Vl
Jessica Stockamp, May r
ATTEST:
Tamf Loff, City Clerk
MOTION made by Council Member Darkenwald
and SECONDED by Council Member
INFAVOR: Stockamp, Darkenwald, Heidner, Warehime, Tanner
OPPOSED: None
2.