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.