RESOLUTION 07-159

Introduced by Councilor Marin

RESOLUTION AUTHORIZING ADVANCE
FROM GENERAL FUND TO TIF 5-15

THE CITY OF ALBERT LEA RESOLVES:

            Sec. 1.       That the City Council hereby authorizes the advance of $60,000 from the General Fund to TIF 5-15 Fund.  This advance will be repaid from future tax increment.

            Sec. 2.       That reading of this resolution is waived by Council consent.

            Sec. 3.       That publication of this resolution shall be dispensed with under provisions of Section 3.08 of the Charter of the City of Albert Lea.

That the motion for the adoption of the foregoing resolution was duly seconded by Councilor Brooks, and upon a vote being taken thereon, the following voted in favor thereof: Councilors Rasmussen, Baker, Marin, Olson, Severtson, Brooks and Mayor Erdman.

And the following voted against the same: None.

Introduced, read and passed September 10, 2007.

___/s/_______________________________
Mayor Randall Erdman

Filed and attested September 11, 2007.

_/s/_______________________________
Secretary of the Council