Laserfiche WebLink
• (g) Such Loans are also authorized in advance of the establishment of one or more <br /> of the Districts; for example, when the HRA is advancing certain legal or other <br /> costs associated with a possible District in connection with examining its <br /> qualification or other preliminary matters. By way of example and not limitation, <br /> the HRA is presently considering one or more downtown Districts to be <br /> established and possibly developed in conjunction with the one or more <br /> agreements with MetroPlains, or other suitable developers. In that regard, the <br /> HRA has incurred and may continue to incur various preliminary expenses, <br /> including without limitation legal, financial and other consulting fees. It is the <br /> intention of the HRA to make interfund Loans to finance such purposes and to <br /> repay those Loans, as may be permissible under the substantive rules of the tax <br /> increment law, with interest, from the tax increments of the applicable Districts, <br /> once established. <br /> Passed and adopted by the Housing and Redevelopment Authority of the City of Elk <br /> River, Minnesota this 276 day of January 2003. <br /> • <br /> 4 <br /> Larry Toth, Chair <br /> ATTEST: <br /> atorkijaut ( • 0:214"-e* <br /> Sandra A. Peine, City Clerk <br /> 411 <br /> S/Eda/H RA/Resolut/TifLoan <br />