08/11/2003 Council Packet - Laserfiche WebLink

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• • • City of Lino Lakes, Minnesota (2) (3) (4) (5) (6) (7) the net tax capacity for the reporting period of the district and any subdistrict; the captured net tax capacity of the district; the month and year in which the authority has received or anticipates it will receive the first increment from the district; the date the district must be decertified; the amount of principal and interest payments that are due for the current calendar year on any non - defeased obligations; if the fiscal disparities contribution under chapter 276A or 473F for the district is computed under section 469.177, subdivision 3, paragraph (a). the amount of increased property taxes imposed on other properties in the municipality that approved the tax increment financing plan as a result of the fiscal disparities contribution; (8) the amounts of tax increment received and expended in the reporting period; (9) and any additional information the authority deems necessary. The annual statement must inform readers that additional information regarding each district may be obtained from the authority, and must explain how the additional information may be requested. The Authority must publish the annual statement for a year no later than August 15 of the next year. The authority must identify the newspaper of general circulation in the municipality to which the annual statement has. been or will be submitted for publication and provide a copy of the annual statement to the county board, county auditor, the school board, the state auditor, and` "the governing body of the municipality on or before August 1 of the year in which the statement must be published. The reporting and disclosure requirements outlined in this section shall begin with the year the district was certified, and shall end in the year in which both the district has been decertified and all tax increments have been spent or returned to the county for redistribution. Failure to meet these requirements, as determined by the State Auditors Office, may result in suspension of distribution of tax increment. SPRINGSTED Page 17