SF 65

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, the city of Foley 
  1.9   may expend revenues derived from tax increment financing 
  1.10  district number 1 to finance a wastewater treatment facility 
  1.11  located outside of the district.  The revenues expended under 
  1.12  this section after December 31, 1996, must not exceed $270,000.  
  1.13     Sec. 2.  [EFFECTIVE DATE; APPLICABILITY.] 
  1.14     Pursuant to Minnesota Statutes, section 645.023, paragraph 
  1.15  (a), section 1 is effective without local approval the day 
  1.16  following final enactment and, subject to the limitation in 
  1.17  section 1, applies to revenues expended before and after the 
  1.18  effective date.