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2014 Minnesota Statutes 469.174 DEFINITIONS. Subdivision 1. Generally. In sections 469.174 to 469.179,the terms defined in this section have the meanings given them herein,unless the context indicates a different meaning. Subd.2. Authority. "Authority"means a rural development financing authority created pursuant to sections 469.142 to 469.151;a housing and redevelopment authority created pursuant to sections 469.001 to 469.047; a port authority created pursuant to sections 469.048 to 469.068;an economic development authority created pursuant to sections 469.090 to 469.108;a redevelopment agency as defined in sections 469.152 to 469.165;a municipality that is administering a development district created pursuant to sections 469.124 to 469.133 or any special law;a municipality that undertakes a project pursuant to sections 469.152 to 469.165,except a town located outside the metropolitan area or with a population of 5,000 persons or less;or a municipality that exercises the powers of a port authority pursuant to any general or special law. Subd. 3. Bonds. (a) "Bonds"means any bonds or other obligations issued: (1)by an authority under section 469.178;or (2)in aid of a project under any other law, except revenue bonds issued pursuant to sections 469.152 to 469.165,prior to August 1, 1979. (b)Bonds or other obligations include: (1)refunding bonds; (2)notes; (3) interim certificates; (4) debentures; and (5) interfund loans or advances qualifying under section 469.178,subdivision 7. Subd. 4. Captured net tax capacity. "Captured net tax capacity"means the amount by which the current net tax capacity of a tax increment financing district or an extended subdistrict exceeds the original net tax capacity,including the value of property normally taxable as personal property by reason of its location on or over property owned by a tax- exempt entity.In the case of a hazardous substance subdistrict, except an extended subdistrict, "captured net tax capacity"means the amount,if any,by which the lesser of(1) the original net tax capacity or(2)the current net tax capacity of the portion of the tax increment financing district overlying the subdistrict exceeds the original net tax capacity of the subdistrict. Subd. 5. Governing body. "Governing body"means the elected council or board of a municipality. Subd.6. Municipality. "Municipality"means the city,however organized,in which the district is located,with the following exceptions: (1)for a project undertaken pursuant to sections 469.152 to 469.165, "municipality" has the meaning given in sections 469.152 to 469.165;and (2)for a project undertaken pursuant to sections 469.142 to 469.151,or a county or multicounty project undertaken pursuant to sections 469.004 to 469.008 or special law, "municipality"means the county in which the district is located. Subd. 7. Original net tax capacity. (a)Except as provided in paragraph(b), "original net tax capacity"means the tax capacity of all taxable real property within a tax increment financing district as certified by the commissioner of revenue for the previous assessment year,provided that the request by an authority for certification of a new tax increment https://www.re,isor.mn.g oVstaUes/?id=469.174#statA69.174.8 1n 50