SF 1797

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 Cambridge; modifying a tax 
  1.3             increment district to permit expenditures in the 
  1.4             development district. 
  1.5   BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA: 
  1.6      Section 1.  [CITY OF CAMBRIDGE; TAX INCREMENT DISTRICT.] 
  1.7      Subdivision 1.  [AUTHORITY.] Notwithstanding the provisions 
  1.8   of Minnesota Statutes, sections 469.176, subdivision 4b, and 
  1.9   469.1763, subdivision 2, the city of Cambridge may amend the 
  1.10  plan for district 6-5 to permit the expenditure of increment 
  1.11  generated from the district in development district No. 6 for 
  1.12  the purposes identified in subdivision 2. 
  1.13     Subd. 2.  [PERMITTED USE.] Increment from district 6-5 may 
  1.14  be spent in development district No. 6 for public improvements 
  1.15  related to the construction of the Cambridge Community College.  
  1.16  The improvements must be completed by June 30, 1997. 
  1.17     Subd. 3.  [DISTRICT STATUS.] For tax increment in 1998 and 
  1.18  subsequent years, district 6-5 is an exempt district under 
  1.19  Minnesota Statutes, section 273.1399, provided the governing 
  1.20  body of the city of Cambridge fulfills the requirements of 
  1.21  Minnesota Statutes, section 273.1399, subdivision 6, paragraph 
  1.22  (d)(1), clause (B), before October 1, 1997. 
  1.23     Sec. 2.  [EFFECTIVE DATE.] 
  1.24     This act is effective the day after the governing body of 
  1.25  the city of Cambridge complies with the provisions of Minnesota 
  2.1   Statutes, section 645.021.