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5. Amounts used to pay other financial obligations to the extent those obligations were used to finance <br />costs described in sections 1 to 3. <br />For districts for which the request for certification were made before August 1, 1979, or after June 30, 1982, <br />administrative expenses also include amounts paid for services provided by bond counsel, fiscal consultants, <br />and planning or economic development consultants. Tax increment may be used to pay any authorized and <br />documented administrative expenses for the District up to but not to exceed 10 percent of the total tax <br />increment expenditures authorized by the TIF Plan or the total tax increment expenditures for Redevelopment <br />Project Area No. 3,. 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. The county may require payment of those <br />expenses by February 15 of the year following the year the expenses were incurred. <br />Pursuant to MS., Section 469. 177, Subd. 11, the County Treasurer shall deduct an amount (currently .36 <br />percent) of any increment distributed to the HRA or City and the County Treasurer shall pay the amount <br />deducted to the State Treasurer for deposit in the state general fund to be appropriated to the State Auditor <br />for the cost of financial reporting of tax increment fmancing information and the cost of examining and <br />auditing authorities' use of tax increment financing. This amount may be adjusted annually by the <br />Commissioner of Revenue. <br />Subsection 2-20. Limitation of increment <br />Pursuant to M.S., Section 469.176, Subd. ]a, no tax increment shall be paid to the HRA or City for the District <br />after three (3) years from the date of certification of the Original Net Tax Capacity value of the taxable <br />property in the District by the County Auditor unless within the three (3) year period: <br />(1) Bonds have been issued in aid of the project containing the District pursuant to M.S., Section <br />469.178, or any other law, except revenue bonds issued pursuant to M.S., Sections 469.152 <br />to 469.165, or <br />(2) The HRA or City has acquired property within the District, or <br />(3) The HRA. or City has constructed or caused to be constructed public improvements within <br />the District. <br />The bonds must be issued, or the HRA or City must' acquire property or construct or cause public <br />improvements to be constructed by approximately June, 2006 and report such actions to the County Auditor. <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 />if, after four years from the date of certification, of the original net tax capacity of the tax increment <br />financing district pursuant to M.S., Section 469.177, no demolition, rehabilitation or renovation of <br />property or other site preparation, including qualified improvement of a street adjacent to a parcel <br />but not installation of utility service including sewer or water systems, has been commenced on a <br />Rousing and Redevelopment Authority of St. Anthony <br />Tax Increment Financing Plan for Tax Increment Financing District No. 3=5 <br />33 <br />2-13 <br />