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10-09-2019 Workshop & Council Packet
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10-09-2019 Workshop & Council Packet
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RELEVANT LINKS: <br />League of Minnesota Cities Information Memo: 5/10/2019 <br />Newspaper Publication Page 14 <br /> • The interest paid. <br />• The debt retired. <br /> If the city council chooses, the statement may be incorporated into the <br />city’s annual financial reports, in accordance with a form and style <br />prescribed by the state auditor. <br /> d. Tax-increment annual statement <br />Minn. Stat. § 469.175, subd. <br />5. EDAs, port authorities, and other such authorities must publish an annual <br />statement regarding their tax-increment -financing districts. The statement <br />must show the following: <br /> • The original net tax capacity of the district and any subdistrict under <br />section 469.177, subdivision 1. <br />• The net tax capacity for the reporting period of the district and any <br />subdistrict. <br />• The captured net tax capacity of the district. <br />• The month and year in which the authority has received or anticipates <br />it will receive the first increment from the district. <br />• The date the district must be decertified. <br />• The amount of principal and interest payments that are due for the <br />current calendar year on any nondefeased: <br />• general-obligation tax-increment -financing bonds. <br />• other tax-increment -financing bonds. <br />• notes and pay-as-you -go contracts. <br />• The amount of increased property tax imposed on other properties in <br />the municipality as a result of any fiscal-disparities contribution, if the <br />amount for the district is computed under Minn. Stat. § 469.177, subd. <br />3(a). <br />• The amounts of tax increment received and expended in the reporting <br />period. <br />• A statement that additional information regarding each district may be <br />obtained from the authority, and an explanation of how it may be <br />requested. <br />• Any additional information the authority deems necessary. <br /> The statement must be published in a newspaper of general circulation in <br />the municipality that approved the tax-increment -financing plan. It must <br />be published no later than Aug. 15 each year. The authority must identify <br />the newspaper in which the statement will be published and provide a copy <br />of the statement to the county board, the county auditor, the state auditor, <br />and the governing body of the municipality (if the authority is other than <br />the municipality) on or before Aug. 1.
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