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SF 3056

as introduced - 86th Legislature (2009 - 2010) Posted on 03/04/2010 03:23pm

KEY: stricken = removed, old language.
underscored = added, new language.
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A bill for an act
 relating to the city of Sauk Rapids; extending duration of a tax increment
financing district; authorizing certain expenditures.

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

Section 1. DURATION OF DISTRICT.

Notwithstanding the provisions of Minnesota Statutes, section 469.176, subdivision
1b, the Sauk Rapids Housing and Redevelopment Authority may collect tax increment
from Tax Increment Financing District No. 4 through December 31, 2015.

Sec. 2. USE OF TAX INCREMENT REVENUES.

Notwithstanding anything to the contrary in Minnesota Statutes, section 469.176,
subdivision 4g, paragraph (b), tax increment received from Tax Increment Financing
District No. 4 may be used to pay for costs of constructing a building to be used as a city
hall and public safety facility in the city of Sauk Rapids, together with all costs of design,
engineering, land acquisition, site improvements, and infrastructure to serve such building.

Sec. 3. EFFECTIVE DATE.

This act is effective upon compliance by the governing body of the city of Sauk
Rapids with the requirements of Minnesota Statutes, sections 469.1782, subdivision 2, and
645.021, subdivision 3.