HF 1198

as introduced - 83rd Legislature (2003 - 2004) Posted on 12/15/2009 12:00am

  1.1                          A bill for an act 
  1.2             relating to the city of Monticello; authorizing 
  1.3             extension of time for certain activities in a tax 
  1.4             increment financing district. 
  1.5   BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA: 
  1.6      Section 1.  [CITY OF MONTICELLO; EXTENSION OF TIME FOR 
  1.7   ACTIVITY IN A TAX INCREMENT FINANCING DISTRICT.] 
  1.8      The requirements of Minnesota Statutes, section 469.1763, 
  1.9   subdivision 3, that activities must be undertaken within a 
  1.10  five-year period from the date of certification of a tax 
  1.11  increment financing district, must be considered to be met for 
  1.12  the city of Monticello tax increment financing district no. 1-22 
  1.13  if the activities are undertaken within ten years from the date 
  1.14  of certification of the district. 
  1.15     [EFFECTIVE DATE.] This section is effective upon compliance 
  1.16  by the governing body of the city of Monticello with the 
  1.17  requirements of Minnesota Statutes, section 645.021.