Tax Increment Act definition

Tax Increment Act means Minnesota Statutes, Section 469.174-469.1799, as amended, or any successor statutes applicable to the District.

Tax Increment Act or “TIF Act” means the Tax Increment Financing Act, Minnesota Statutes, Sections 469.174 through 469.1794, as amended.

Tax Increment Act or “TIF Act” means the Tax Increment Financing Act, Minnesota Statutes, Sections 469.174 to 469.1794, as amended.

Examples of Tax Increment Act in a sentence

• This Note is issued by the City in aid of financing a project pursuant to and in full conformity with the Constitution and laws of the State of Minnesota, including the Tax Increment Act.

• The Board will also comply with all other procedural requirements of the Tax Increment Act and other applicable laws.

• The Tax Increment District is an "economic development district" within the meaning of Minnesota Statutes, Section 469.174, Subdivision 12, and was created, adopted and approved in accordance with the terms of the Tax Increment Act.

• This Note is issued by the EDA in aid of financing a project pursuant to and in full conformity with the Constitution and laws of the State of Minnesota, including the Tax Increment Act.

• Pursuant to Section 469.178 of the Tax Increment Act, the Authority is authorized to issue and sell its bonds for the purpose of financing or refinancing public redevelopment costs of the Redevelopment Project and to pledge tax increment revenues derived from a tax increment financing district established within the Redevelopment Project to the payment of the principal of and interest on such obligations.

More Definitions of Tax Increment Act

Tax Increment Act means the Tax Increment Financing Act, Minnesota Statutes, Sections 469.174 to 469.1799, as amended and as it may be amended.

Tax Increment Act means the Tax Increment Financing Act, Minnesota Statutes, sections 469.174 through 469.1794, as amended;

Tax Increment Act means Minnesota Statutes Sections 469.174 et seq., Laws of Minnesota 1998, Chapter 389, Article 11, Section 24 and any other special law.

Tax Increment Act means Minnesota Statutes, Section 469.174 et seq., as amended. “Tax Increment District” means Tax Increment Financing District No. 23 created by the

Tax Increment Act means Minnesota Statutes, Section 469.174-469.1799, as amended, or any successor statutes applicable to the District. On each Payment Date, the City shall pay the Developer an installment equal to the lesser of (i) the Available Tax Increment or (ii) the amount necessary to pay the accrued unpaid interest and the unpaid principal amount of this Note in full. If the Developer is in default under the Contract, and, after notice by the City to the Developer as provided in the Contract, such default has not been cured within the time period provided in the Contract, then the City may suspend payment on this Note until a) the default is cured or b) prior to the issuance of the Certificate of Completion, the Contract and the City’s obligations under this Note are terminated. If the City suspends payments due under this TIF Note, the City shall make the suspended payments to the Developer within ten(10) business days after the Developer’s cure of the Event of Default. The City is not obligated to pay interest on the amount of the suspended payments between the date the payment is suspended and the last date on which the City is obligated to make the suspended payment to the Developer. To the extent that on any Payment Date there is insufficient Available Tax Increment to make a scheduled payment, such failure to make a scheduled payment shall not constitute a default under this Note. If the Developer or other Minimum Improvements’ owner fails to pay all or a portion of the property taxes due and owing on the Minimum Improvements, then upon such failure to pay, no interest as required by the Note shall accrue on an amount equal to the amount of the Available Tax Increment that would have been paid to the City had such property tax amounts been paid. Interest shall accrue on the initial principal amount of this Note from the date of issue of the Public Costs Certification. Each payment under this Note, whether a scheduled payment or any other payment, shall be applied first to current interest, then to accrued unpaid interest and then to the unpaid principal amount of this Note. On the Maturity Date, this Note shall be deemed paid in full and the City shall have no further obligation under this Note even if the aggregate of the Available Tax Increment that has actually been paid to the Developer on the Payment Dates is less than the full principal and interest amount of this Note. The obligation of the City to make any scheduled payment shall terminate if and to th...

Tax Increment Act means the statutory provisions of Minnesota Statutes, sections 469.174 to 469.1799, inclusive, as amended and supplemented from time to time.

Tax Increment Act means the Tax Increment Financing Act, Minn. Stat. §§469.174 through 469.179, as amended;