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"State" means the State of Minnesota. <br /> <br /> "Tax Increment" means only that portion of the real estate <br />taxes paid solely with respect to the Redevelopment Property <br />(which is part of the property in the Tax Increment District) and <br />which is remitted to the City as tax increment pursuant to the <br />Tax Increment Act. <br /> <br /> "Tax Increment Act" means Minnesota Statutes, Sections <br />469.174 - 469.179. <br /> <br /> "Tax Increment District" means Tax Increment Financing <br />District No. 6 created by the Council in connection with the <br />Redevelopment Program. <br /> <br /> "Tax Increment Plan" means the tax increment financing plan <br />adopted by the Authority in connection with the creation of the <br />Tax Increment District. <br /> <br /> "Unavoidable Delays" means delays which are the direct <br />result of strikes, other labor troubles, unusually severe or <br />prolonged bad weather, Acts of God, fire or other casualty to the <br />Minimum Improvements, litigation commenced by third parties <br />which, by injunction or other similar judicial action, directly <br />results in delays, or acts of any federal, state or local <br />governmental unit which directly result in delays. <br /> <br /> Section. 2.1. Representations bv the Authority. <br />Authority represents as follows: <br /> <br />The <br /> <br /> (A) The Authority is a public body duly organized and <br />existing under the laws of the State. Under the provisions of <br />the Act, the Authority has the power to enter into this Agreement <br />and carry out its obligations hereunder. <br /> <br /> (B) The Authority is the fee owner of the Redevelopment <br />Property <br /> <br /> (C) The Authority shall use all Purchase Price Pavwnents to <br />reimburse the Redeveloper for the costs of structured parking in <br />the Office Tract. <br /> <br /> Section 2.2. Reoresentations by the Redeveloper. <br />Redeveloper represents as follows: <br /> <br />The <br /> <br /> (A) The Redeveloper is a Delaware corporation, organized <br />and existing in good standing under the laws of Minnesota, is <br />authorized to transact business in the State, has duly authorized <br />the execution of this Agreement and the performance of its <br />obligations hereunder, and neither the execution and delivery of <br />this Agreement, the consummation of the transactions contemplated <br />hereby, nor the fulfillment of or compliance with the terms and <br /> <br />3 <br /> <br /> <br />