The Taconite Capital of the World

City of Mountain Iron, Minnesota



Resolution 39-04 Rescinding Resolution 19-04

RESOLUTION NUMBER 39-04

RESCINDING THE DISSOLUTION OF THE MOUNTAIN IRON HOUSING AND REDEVELOPMENT AUTHORITY

BE IT RESOLVED BY THE CITY COUNCIL OF MOUNTAIN IRON, MINNESOTA, as follows:

Section 1. Findings.

1.01 The City Council did, on the 19th day of April, 2004, establish the Mountain Iron Economic Development Authority pursuant to Minn. Stat. �469.090 to �469.108, and did grant the Mountain Iron Economic Development Authority all of the powers, authority, and duties of a Housing and Redevelopment Authority.

1.02 The City Council finds that notwithstanding the establishment of the Mountain Iron Economic Development Authority (“Mountain Iron EDA”), there is a need for the continued existence of a separate Housing and Redevelopment Authority of the City of Mountain Iron (the “Mountain Iron HRA”) for the purpose of holding title to certain Mountain Iron HRA assets, the transfer of which would be costly, difficult, impracticable, or impossible.

1.03 The City Council did, on the 19th day of April, 2004, adopt Resolution Number 19-04, which provided for the transfer and dissolution of the Mountain Iron HRA.

Section 2. Rescission of Dissolution of HRA.

2.01 Rescission of Dissolution. Resolution Number 19-04, adopted by the City Council on the 19th day of April, 2004, providing for the dissolution of the Mountain Iron HRA, is hereby rescinded in its entirety.

Section 3. Authority.

3.01 Authority. It shall be the policy of the City of Mountain Iron that upon adoption of this Resolution any and all new development projects of any type or kind undertaken within the City of Mountain Iron be conducted under the authority of the Mountain Iron Economic Development Authority. It shall be the further policy of the City of Mountain Iron that the administration of existing development projects in the City of Mountain Iron under the authority of the HRA be hereby transferred to the EDA to the maximum extent possible.

3.02 Transfer. The City of Mountain Iron consents to the transfer of all records, all employees, and all reasonably transferable assets of the Mountain Iron HRA to the authority, supervision, and control of the Mountain Iron Economic Development Authority.

3.03 HRA to Hold Title. It shall be the policy of the City of Mountain Iron that the Mountain Iron HRA remain in existence for the purpose of holding title to assets of the HRA involving existing HRA development projects which are impracticable to transfer to the EDA because of encumbrances and/or other restrictions. The City of Mountain Iron consents to the transfer to the EDA of any unencumbered assets of the HRA which are to be used in conjunction with new development projects within the City of Mountain Iron.

Section 4. Implementation.

4.01 Officers Authorized to Act. The Mayor, City Council, City Administrator, and other appropriate City Officials are authorized and directed to take the actions and execute and deliver the documents necessary to give full effect to this resolution. To the extent the consent of the City of Mt. Iron is required as a condition precedent to the members and officers of the HRA and EDA taking such actions and executing and delivering such documents necessary to give full effect to this resolution, such consent is hereby given.

4.02 Effective Date. This resolution is effective upon adoption.

DULY ADOPTED BY THE CITY COUNCIL THIS 20TH DAY OF SEPTEMBER, 2004.

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