1.1                          A bill for an act 
  1.2             relating to taxation; allowing the city of Lake City 
  1.3             to extend the duration of a tax increment financing 
  1.4             district. 
  1.5   BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA: 
  1.6      Section 1.  [CITY OF LAKE CITY; TAX INCREMENT DISTRICT.] 
  1.7      Notwithstanding the provisions of Minnesota Statutes, 
  1.8   section 469.176, subdivision 1b, the duration of tax increment 
  1.9   financing district number 3, located within the city of Lake 
  1.10  City, may be extended to January 1, 2002, by resolution of the 
  1.11  governing body of Lake City. 
  1.12     Sec. 2.  [EFFECTIVE DATE; LOCAL APPROVAL.] 
  1.13     Section 1 is effective the day after the governing body of 
  1.14  the city of Lake City complies with Minnesota Statutes, section 
  1.15  645.021, subdivision 2.