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r~ <br />existing tam increment revenues from the TIF District in order to stimulate construction or <br />rehabilitation of private development in a way that will also create or retain jobs. <br />(e) The City has performed all actions required by law to be performed prior to the <br />approval of the Spending Plan, including, but not limited to, causing notice of a public hearing to be <br />published and holding a public hearing on the date hereof on the adoption of the Spending Plan. <br />Section 2. Approval of the Spending Plan. <br />(a) The Spending Plan for the TIF District is hereby approved and adopted in substantially <br />the form submitted to the City. <br />(b) The Authority is hereby authorized to carry out the terms of the Spending Plan in <br />such manner as it determines. <br />The motion for the adoption of the foregoing resolution was duly seconded by Member <br />Zerwas ,and upon vote being taken thereon, the following voted in favor thexeof: <br />Councilmembers Zerwas, Gumphrey, Westgaard, and Motin <br />and the following voted against: none <br />whereupon said resolution was declared duly passed and adopted. <br />Passed and adopted by the City Council of the City of Elk River this 21St day of June, 2010. <br />Steph nie Klinzing, M <br />ATTEST: <br />i/ <br />Tina Allard, City Clerk <br />Mayor Rlinzing,~ <br />• <br /> <br />369802v1 JSB EL185-12 <br />