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RESOLUTION NO. 04-100 CITY OF ELK RIVER COUNTY OF SHERBURNE STATE OF MINNESOTA A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF ELK RIVER AUTHORIZING EMINENT DOMAIN AND ACQUISITION OF REAL PROPERTY IN ACCORDANCE WITH MINN. STAT. ~ 117.042 FOR THE DOWNTOWN PHASE I TAX INCREMENT FINANCING DISTRICT NO. 22 AND TO CLEAR TITLE TO AN EXISTING CITY STREET. RECITIALS WHEREAS, the City of Elk River is a statutory city organized and existing under the laws of the State of Minnesota with all powers, rights and authority ofa statutory city and is a public body corporate and politic; WHEREAS, the City of Elk River has the authority to acquire real property by condemnation in accordance with Minnesota law including Minn. Stat. ~ 412.211, Minn. Stat. 99 465.01 and 465.16, and Minn 9 469.124 through 469.134; WHEREAS, the City of Elk River, by previous action, has designated Municipal Development District No. I ("Development District") which Development District is coterminous with the city limits of the City of Elk River; WHEREAS, the City of Elk River has adopted a development program for the Development District ("Development Program"); WHEREAS, in accordance with the Development Program, the City of Elk River has deemed it advisable to encourage development within the Development District in an effort to increase the tax base of the City of Elk River, provide for employment opportunities within the City of Elk River and otherwise benefit the health, safety, morals and welfare of the residents of the City of Elk River in accordance with public purpose provisions of applicable state and local laws;