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of the bond," the EDA will account for all increment from the Tax increment Districts in <br />one or more accounts and subaccounts, including the ability where deemed appropriate to <br />establish one or more accounts for the proper accounting and implementation of the Tax <br />increment Financing Districts and the portion of the Project to be financing directly or <br />indirectly with tax increment. The right to make appropriate transfers in and out of such <br />accounts is hereby reserved, along with the right to make both external and internal <br />interest bearing borrowings, whether long term or short tern, including transfers from <br />other city or EDA funds to cash flow tax increment obligations and other legitimate <br />expenditures. <br />X. Annual Disclosure Requirements <br />Pursuant to Minnesota Statutes, Section 469.175, Subdivision 5, an authority must file an <br />annual disclosure report for all tax increment financing districts. The report shall be filed <br />with the school board, county board and the Minnesota Department of Trade and <br />Economic Development. The report shall include the following information: <br />I. The original assessed value of the district; <br />2. The captured assessed value of the district, including the amount of any captured <br />assessed value shared with other taxing districts; <br />3. The outstanding principal amount or bonds issued or other loans insured to <br />finance project costs in the district; <br />4. For the reporting period and for the duration of the district, the amount budgeted <br />under the tax increment financing plan, and the actual amount expended for, at <br />least, the following categories: <br />a. Acquisition of land and buildings through condemnation or purchase; <br />b. Site improvements or preparation costs; <br />C. Installation of public utilities or other public improvements; <br />d. Administrative costs, including the allocated cost of the authority. <br />For properties sold to developers, the total cost of the property to the authority <br />and the price paid by the developer; <br />Y. Assumptions <br />City of Mounds View TIF District No. 3 Modification 15 1 P a e c <br />