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completed without utilization of Tax Increment Financing; <br />and, <br /> <br />WHEREAS, redistribution of these tax revenues in 1998, based upon 1997 <br /> taxes payable, will be approximately as follows: <br /> <br />· City of Elk River - $ 30,646 <br />· Sherburne County- $ 30,282 <br />· School District 728 - $ 77,420 <br />· Miscellaneous Jurisdictions - $ 1,652 <br /> <br />Total $140,000 <br /> <br />NOW, THEREFORE, be it resolved by the City Council of the City of Elk <br />River as follows: <br /> <br />That Tax Increment Financing District No. 5 shall be decertified on <br />December 31, 1997, for taxes payable 1998; and, <br /> <br />II. <br /> <br />That the City Council of the City of Elk River hereby directs staff to <br />take steps necessary to decertify Tax Increment Financing District No. <br />5 including providing notification to Sherburne County and the <br />Minnesota State Auditors Office. <br /> <br />Passed and adopted by the City Council of the City of Elk River this 15th day <br />of December, 1997. <br /> <br />ATTEST: <br /> <br />Henry A. Duitsman, Mayor <br /> <br />Sandra A. Thackeray, City Clerk <br /> <br /> <br />