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Section 3. - Findings for the Modification of Tax Increment Financing <br />District No. 5. <br /> <br /> 3.01. The Council hereby ratifies, in there entirety, the original findings <br />established at the time of approval of the Tax Increment Financing Plan for Tax <br />Increment Financing District No. 5, made on June 20, 1988, and appearing in the <br />City of Elk River Resolution No. 88-47. <br /> <br />Section 4. - Approval and Adoption of the Plan Modification. <br /> <br /> 4.01. The Plan Modification, as presented to the Council on this date, <br />including without limitation the findings and statements of objectives contained <br />therein, are hereby approved, ratified, established, and adopted, and shall be placed <br />on file in the office of the Executive Director of the Economic Development <br />Authority. <br /> <br /> 4.02 The staff of the City, the City's advisors and legal counsel are <br />authorized and directed to proceed with the implementation of the Plan <br />Modification and to negotiate, draft, prepare, and present to this Council for its <br />consideration all further Plans, Resolutions, Documents, and Contracts necessary <br />for this purpose. <br /> <br /> The motion for the adoption of the foregoing resolution was introduced by <br />Councilmember and duly seconded by Councilmember <br /> , and upon a vote being taken thereon, the following voted in <br />favor thereof: <br /> <br />and the following voted against the same: <br /> <br />Dated: December 1, 1997 <br /> <br />Henry A. Duitsman, Mayor <br /> <br />ATTEST: <br /> <br />Sandra Thackeray, City Clerk <br /> <br /> <br />