HF 3249

as introduced - 88th Legislature (2013 - 2014) Posted on 03/20/2014 02:10pm

A bill for an act
relating to the city of Bloomington; authorizing the use of certain tax increment
funds; amending Laws 2013, chapter 143, article 9, section 23.

BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA:

Section 1.

Laws 2013, chapter 143, article 9, section 23, is amended to read:

Sec. 23. CITY OF BLOOMINGTON; OLD CEDAR AVENUE BRIDGE.

(a) Notwithstanding any law to the contrary, the city of Bloomington shall transfer
from the tax increment financing accounts for its Tax Increment Financing District No.
1-C and Tax Increment Financing District No. 1-G an amount equal to the tax increment
for each district that is computed under the provisions of Minnesota Statutes, section
473F.08, subdivision 3c, for taxes payable in 2014 to an account or fund established for
the repair, restoration, or replacement of the Old Cedar Avenue bridge for use by bicycle
commuters and recreational users. The city is authorized to and must use the transferred
funds to complete the repair, renovation, or replacement of the bridge. new text begin Upon completion
of the repair, renovation, or replacement of the bridge, the city may use any remaining
funds in the account for costs of improving bicycle and pedestrian trails that access the
bridge and that use is deemed to be a permitted use of the increments.
new text end

(b) No signs, plaques, or markers acknowledging or crediting donations for,
sponsorships of, or naming rights may be posted on or in the vicinity of the Old Cedar
Avenue bridge.

new text begin EFFECTIVE DATE. new text end

new text begin This section is effective without local approval under
Minnesota Statutes, section 645.023, subdivision 1, paragraph (a).
new text end