Minnesota Session Laws - 1985, Regular Session

  

                         Laws of Minnesota 1985 

                        CHAPTER 133-S.F.No. 1485 
           An act relating to the city of South St. Paul; 
          authorizing the expenditure of certain tax increments 
          to pay costs of a combined storm-sanitary sewer 
          separation project. 
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA: 
    Section 1.  [SOUTH ST. PAUL.] 
    The council of the city of South St. Paul in Dakota county 
may by resolution authorize the expenditure of ad valorem tax 
increments derived and to be derived by the city from its 
Concord Street redevelopment project to pay costs incurred and 
to be incurred by the city with respect to the separation of its 
combined storm-sanitary sewer system, either within or outside 
the redevelopment project, or both.  No ad valorem tax 
increments received by the city in any year shall be expended 
for this purpose until the city has set aside an amount of the 
tax increments necessary to pay all principal and interest 
coming due in that year on bonds of the city to which they have 
been pledged in the sinking fund established for the payment of 
the bonds.  
    Sec. 2.  [EFFECTIVE DATE.] 
     This act is effective the day following final enactment. 
    Approved May 17, 1985