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Ramsey County <br />July 26, 1988 <br />Page 2 <br />through 1998. At that point, the taxing jurisdictions will <br />begin to receive taxes on the full assessed value of the <br />property. The amount each jurisdiction will receive <br />annually during the period bonds are outstanding will vary <br />with changes in the mill rate. In the event that the mill <br />rate decreases, the tax paid to the taxing jurisdiction on <br />the frozen base will be computed at the mill rate in place <br />at the time of original certification. In the event a mill <br />rate rate increase is approved by a school district <br />referendum, the resulting tax increase would be paid to the <br />school district. <br />Copies of the completed Tax Increment Financing Plan will <br />be submitted to you upon its completion prior to the public <br />hearing. <br />JGC:kpv <br />Enclosures <br />Sincerely, <br />oseph G. Chlebeck <br />Clerk /Treasurer <br />Page 61 <br />