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08-015
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08-015
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11/7/2018 11:24:15 AM
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2/15/2008 4:03:22 PM
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BE F <br />4 <br />i <br />EXHIBIT B <br />y <br />A bill for an act <br />relating to the city of New Brighton; Tax Increment Financing; Special Rules <br />ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA: <br />B ction . CITY OF NEW BRIGHTON• TAX INCREMENT FINANCING. <br />Subdivision 1. [Expenditures outside district.1 Notwithstanding the provisions <br />of seGtion <br />469.176 subd. 4d and section 469.1763 subd. 2 or any other law to the <br />contiary, <br />the City of New Brighton may expend increments generated from its tax <br />incr <br />ent financina districts nos. 9 20 and 26 to pay eligible expenses as permitted b <br />secti <br />n 469.176 subd. 4i outside the boundaries of districts nos. 9 20 and 26 but onl <br />withi <br />the area described in Laws of Minnesota Chapter 389 Article 11 section 24 <br />subc <br />i ision 1 and common1V referred to as the Northwest Quadrant, Section 469.1763 <br />subc. <br />3 and subd. 4 shall not apply to expenditures permitted in this section. <br />Subd. 2. District duration extension.1 Notwithstanding the provisions of <br />Minnesota <br />Statutes section 49.176 subd.1 b or any other law to the contrary, the <br />duration <br />limits that apply to redevelo ment tax increment financin districts nos. 31 and <br />32 established <br />under Laws 1998 chapter 389 article 11 section 24 and hazardous <br />sub <br />469. <br />ante subdistricts nos. 31A and 32A established under sections 469.471 to <br />799 are extended by four years. <br />Subd. 3. fEFFECTIVE DATE.1 This section is effective upon approval by the <br />ov <br />nin bod of the cit of New Bri hton and u on tom liance b the cit with <br />Mimiksota <br />a <br />Statutes section 645.021 subd. 3 and 469.1782 subd. 2. <br />i <br />
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