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January 1, 1999, because the project would not have been <br />completed without utilization of Tax Increment Financing; <br />and, <br /> <br />WHEREAS, redistribution of these tax revenues in 1999, based upon 1998 <br /> taxes payable, will be approximately as follows: <br /> <br />· City of ElkRiver- $ 34,310 <br />· Sherburne County - $ 35,624 <br />· School District 728 - $ 74,022 <br />· Miscellaneous Jurisdictions - $ 1.898 <br /> <br />Total $145,854 <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. 9 shall be decertified on <br />December 31, 1998, for taxes payable 1999; 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 />9 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 21st day <br />of December, 1998. <br /> <br />ATTEST: <br /> <br /> <br />