Annual Financial Report 12/31/1990

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Page 22 of 23 CITY OF LINO LAKES, MINNESOTA NOTES TO FINANCIAL STATEMENTS December 31, 1990 NOTE 11 TAX INCREMENT DISTRICTS (Continued) District #1 -2 was established pursuant to MS 469.174, subd. 12 which qualifies it as an Economic Development TIF district. The duration of the district is eight years from the date of the receipt of the first increment or ten years from the date of approval of the TIF plan, whichever comes first. Current tax capacity $73,669 Original tax capacity 7,508 Captured tax capacity $66,161 Retained by authority $66,161 Shared with other taxing districts 0 Total $66,161 District #1 -3 was established pursuant to MS 469.174, subd. 10(a)(2) which qualifies it as a redevelopment district. The duration of the district is 25 years from the date of the first increments. Current tax capacity $3,942 Original tax capacity 4,045 Captured tax capacity ($103) Retained by authority $0 Shared with other taxing districts 0 Total $0 District #1-4 was established pursuant to MS 469.174 subd. 12 which qualifies it as an Economic Development TIF District. The duration of the District is eight years from the date of the receipt of the first increment or ten years from the date of approval of the TIF Plan, whichever comes first. Current tax capacity Original tax capacity Captured tax capacity $0 Retained by authority $0 Shared with other taxing districts 0 Total $0 NOTE 12 SUBSEQUENT EVENT On November 13, 1990 the City approved the issuance of the $88,500 Certificates of Indebtedness series 1990. The certificates were issued on January 1, 1991.