as introduced - 88th Legislature (2013 - 2014) Posted on 03/12/2014 12:41pm
|Introduction||Posted on 02/27/2014|
A bill for an act
relating to the city of St. Paul; expanding the authority to spend certain tax
increments; amending Laws 2008, chapter 366, article 5, section 36, subdivision
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA:
Laws 2008, chapter 366, article 5, section 36, subdivision 3, is amended to
Tax increment from the district may be
expended only to pay principal and interest on bond obligations issued by the new text beginnew text endSt.
Paul deleted text beginHousing and Redevelopment Authoritydeleted text end in deleted text begin1996deleted text endnew text beginnew text end for the deleted text beginconvention center
deleted text endnew text beginnew text end, including payment of principal and interest on any bonds issued to
repay the bonds or loans. All such expenditures are deemed to be activities within the
district under Minnesota Statutes, section 469.1763, subdivisions 2, 3, and 4.
new text begin new text end