SF 411

as introduced - 85th Legislature (2007 - 2008) Posted on 12/15/2009 12:00am

A bill for an act
relating to the city of Faribault; authorizing the expenditure of tax increment
revenues.

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

Section 1. new text begin CITY OF FARIBAULT; TAX INCREMENT FINANCING
EXPENDITURES.
new text end

new text begin Notwithstanding the provisions of Minnesota Statutes, section 469.1764, or any
other law, the city of Faribault is authorized to expend revenues derived from the city
of Faribault's Original 1981 Tax Increment District (1 West, 2 North, 3 Central, and 4
East) for the costs of sidewalk, streetscape (surface treatment and lighting), and water,
sanitary sewer, and storm sewer utility improvements in the city of Faribault's downtown
improvement district, an area defined and bounded as follows: beginning at the corner of
the intersection of the Western Railroad Properties Inc. (formerly Chicago, Rock Island,
and Pacific Railroad Company) railroad right of way and West Division Street; from such
intersection travel on West Division Street to the intersection of West Division Street and
1st Avenue NW; travel on 1st Avenue NW to 2nd Street NW; travel on Second Street NW
to 2nd Avenue NW; travel on 2nd Avenue NW to 5th Street NW; travel on 5th Street NW
to 1st Avenue NW; travel on 1st Avenue NW to 6th Street NW; travel on 6th Street NW to
its intersection with the Western Railroad Properties Inc. (formerly Chicago, Rock Island,
and Pacific Railroad Company) railroad right of way; travel on the Western Railroad
Properties Inc. (formerly Chicago, Rock Island, and Pacific Railroad Company) railroad
right of way to its intersection with West Division Street, all in the city of Faribault.
new text end

Sec. 2. new text begin EFFECTIVE DATE.
new text end

new text begin This act is effective upon approval by the governing body of the city of Faribault
and compliance with Minnesota Statutes, section 645.021, subdivision 3.
new text end