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Subsection 2-18. Administrative Expenses <br />In accordance with M.S., Section 469.174, Subd. 14, administrative expenses means all expenditures of the <br />EDA or City, other than: <br />1. Amounts paid for the purchase of land; <br />2. Amounts paid to contractors or others providing materials and services, including architectural and <br />engineering services, directly connected with the physical development of the real property in the <br />District; <br />3. Relocation benefits paid to or services provided for persons residing or businesses located in the <br />District; <br />4. Amounts used to pay principal or interest on, fund a reserve for, or sell at a discount bonds issued <br />pursuant to M.S., Section 469.178; or <br />5. Amounts used to pay other financial obligations to the extent those obligations were used to finance <br />costs described in clauses (1) to (3). <br />For districts for which the request for certification were made before August 1, 1979, or after June 30, 1982, <br />and before August 1, 2001, administrative expenses also include amounts paid for services provided by bond <br />counsel, fiscal consultants, and planning or economic development consultants. Pursuant to M.S., Section <br />469.176, Subd. 3, tax increment may be used to pay any authorized and documented administrative <br />expenses for the District up to but not to exceed 10 percent of the total estimated tax increment expenditures <br />authorized by the TIF Plan or the total tax increments, as defined by M.S., Section 469.174, Subd. 25, clause <br />(1), from the District, whichever is less. <br />For districts for which certification was requested after July 31, 2001, no tax increment may be used to pay <br />any administrative expenses for District costs which exceed ten percent of total estimated tax increment <br />expenditures authorized by the TIF Plan or the total tax increments, as defined in M.S., Section 469.174, Subd. <br />25, clause (1), from the District, whichever is less. <br />Pursuant to M.S., Section 469.176, Subd. 4h, tax increments may be used to pay for the County's actual <br />administrative expenses incurred in connection with the District and are not subject to the percentage limits <br />of M.S., Section 469.176, Subd. 3. The county may require payment of those expenses by February 15 of the <br />year following the year the expenses were incurred. <br />Pursuant to M.S., Section 469. 177, Subd. 11, the County Treasurer shall deduct an amount (currently .36 <br />percent) of any increment distributed to the EDA or City and the County Treasurer shall pay the amount <br />deducted to the State Commissioner of Management and Budget for deposit in the state general fund to be <br />appropriated to the State Auditor for the cost of financial reporting of tax increment financing information <br />and the cost of examining and auditing authorities' use of tax increment financing. This amount may be <br />adjusted annually by the Commissioner of Revenue. <br />Subsection 2-19. Limitation of Increment <br />The tax increment pledged to the payment of bonds and interest thereon may be discharged and the District <br />may be terminated if sufficient funds have been irrevocably deposited in the debt service fund or other escrow <br />account held in trust for all outstanding bonds to provide for the payment of the bonds at maturity or <br />redemption date. <br />Pursuant to M.S., Section 469.176, Subd. 6: <br />Mounds View Economic Development Authority <br />Tax Increment Financing Plan for Tax Increment Financing District No. 1-6 2-11