HF 3098

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

  1.1                          A bill for an act 
  1.2             relating to tax increment financing; authorizing the 
  1.3             expenditure of revenues derived from a tax increment 
  1.4             financing district located in the city of Foley 
  1.5             outside of the district.  
  1.6   BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA: 
  1.7      Section 1.  [CITY OF FOLEY; TAX INCREMENT FINANCING.] 
  1.8      Notwithstanding any law to the contrary, expenditures by 
  1.9   the city of Foley before January 1, 1998, of revenue derived 
  1.10  from tax increment financing district number 1 to finance a 
  1.11  wastewater treatment facility located outside of the district 
  1.12  are authorized expenditures of that revenue.  
  1.13     Sec. 2.  [EFFECTIVE DATE; APPLICABILITY.] 
  1.14     Pursuant to Minnesota Statutes, section 645.023, 
  1.15  subdivision 1, paragraph (a), section 1 is effective without 
  1.16  local approval the day following final enactment and applies to 
  1.17  revenues expended before January 1, 1998.