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completed without utilization of Tax Increment Financing; <br /> • and, <br /> WHEREAS, redistribution of these tax revenues in 1998, based upon 1997 <br /> taxes payable, will be approximately as follows: <br /> • City of Elk River - $ 30,646 <br /> • Sherburne County - $ 30,282 <br /> • School District 728 - $ 77,420 <br /> • Miscellaneous Jurisdictions - $ 1.652 <br /> Total $140,000 <br /> NOW, THEREFORE,be it resolved by the City Council of the City of Elk <br /> River as follows: <br /> I. That Tax Increment Financing District No. 5 shall be decertified on <br /> December 31, 1997, for taxes payable 1998; and, <br /> II. 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 /> Passed and adopted by the City Council of the City of Elk River this 15th day <br /> of December, 1997. <br /> � ienry A Duitsman, Mayor <br /> v !i <br /> ATTEST: <br /> Sandra A. Thackeray, City Clerk <br /> IP <br />