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Use Tax Abatement Authority ¾Abatement Act MN Statutes Sections 469.1812 to 469.1815 9Abatement Levy (Property tax) to Finance General Obligation Bonds9Needs a finding that the use of the tax abatement is in the public interest9Not a reduction of taxes 9Identifies properties that can support a debt service payment9The City may request the county and/or the school districts to participate in the abatement9Different then TIF, the city cannot capture the county and school taxes from parcels for the project unless they agree to participate915 year Bond ( County and School Districts )920 year bond ( Either County or School Participates) 73