Bill Text: MN SF2216 | 2013-2014 | 88th Legislature | Introduced

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Bill Title: St. Paul authorization to spend RiverCentre area tax increments expansion

Sponsorship: Partisan Bill (Democrat 2)

Status: (Introduced - Dead) 2014-03-03 - Referred to Taxes [SF2216 Detail]

Download: Minnesota-2013-SF2216-Introduced.html

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A bill for an act

relating to the city of St. Paul; expanding the authority to spend certain tax
increments; amending Laws 2008, chapter 366, article 5, section 36, subdivision
3.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA:

    Section 1. Laws 2008, chapter 366, article 5, section 36, subdivision 3, is amended to
read:
    Subd. 3. Authorized expenditures. Tax increment from the district may be
expended only to pay principal and interest on bond obligations issued by the city of St.
Paul Housing and Redevelopment Authority in 1996 2009 for the convention center
RiverCentre Arena, including payment of principal and interest on any bonds issued to
repay the bonds or loans. All such expenditures are deemed to be activities within the
district under Minnesota Statutes, section 469.1763, subdivisions 2, 3, and 4.
EFFECTIVE DATE.This section is effective without local approval under
Minnesota Statutes, section 645.023, subdivision 1, paragraph (a).