HF 2336

as introduced - 80th Legislature (1997 - 1998) Posted on 12/15/2009 12:00am

  1.1                          A bill for an act
  1.2             relating to the city of Golden Valley; authorizing 
  1.3             collection of additional tax increments from the 
  1.4             Valley Square tax increment financing district. 
  1.5   BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA: 
  1.6      Section 1.  [GOLDEN VALLEY; TIF DISTRICT EXTENSION.] 
  1.7      (a) Notwithstanding Minnesota Statutes, section 469.176, 
  1.8   subdivision 1c, tax increments from the Valley Square tax 
  1.9   increment financing district shall be paid to the housing and 
  1.10  redevelopment authority of the city of Golden Valley for 
  1.11  property taxes payable in 2001 through 2010 for the following 
  1.12  parcels in the district, identified by their property tax 
  1.13  identification numbers: 
  1.14     (1) 31-118-21-14-0001; 
  1.15     (2) 31-118-21-14-0006; 
  1.16     (3) 31-118-21-14-0018 through 31-118-21-14-0022; 
  1.17     (4) 31-118-21-14-0029 through 31-118-21-14-0032; and 
  1.18     (5) 31-118-21-41-0001. 
  1.19     (b) Increments permitted to be paid to the authority by 
  1.20  paragraph (a) may only be used to pay or defease bonds issued to 
  1.21  fund public redevelopment costs within the redevelopment project 
  1.22  or bonds issued to refund the bonds. 
  1.23     (c) Collection or receipt of increments by the housing and 
  1.24  redevelopment authority under paragraph (a) does not reduce or 
  1.25  affect the amount of increments that the authority may receive 
  2.1   after April 1, 2001, for the district to pay bonds issued before 
  2.2   April 1, 1990. 
  2.3      Sec. 2.  [EFFECTIVE DATE.] 
  2.4      Section 1 is effective the day after compliance by the 
  2.5   governing body of the city of Golden Valley with the 
  2.6   requirements of Minnesota Statutes, sections 469.1782, 
  2.7   subdivision 2; and 645.021, subdivision 3.