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L. M. 1ZM bonds are retired or until all expenses of Development District City intends to use 100% of the the purposes set forth in this t See Section ZZ regarding the c` to the metropolitan area -wide fi Duration of the District capital and administration No * 1 have been paid. The available tax increments for ax increment financing plan. qty's election to contribute seal disparities pool. Pursuant to Minnesota Statutes, Section 469 +176, Subdivision 1, the duration of a tax increment financing district within Development District Not 1 must be indicated within the tax increment financing plan* The duration of Tax Increment Financing District No, 12 will be 25 years from the date of receipt of the first tax increment, Thus, it is estimated that Tax Increment Financing District No. 12, including any modifications to the finance plan for subsequent phases or other changes, would terminate twenty -five years from the collection of the first tax increment. Estimated Impact on other Taxing Jurisdictions The estimated impact of Tax Increment Financing District No. 12 on the other taxing jurisdictions within such District is set forth in Exhibit B. Modifications of the Tax Increment Financing District In accordance with Minnesota Statutes, Section 469.175, Subdivision 4, any reduction or enlargement financing district, increase in amount of bonded indebtedness to be incurred, including a determination or capitalize interest on debt if that determination was not a part of the original. plan, or to increase or decrease the amount of interest on the debt to be capitalized, increase in the portion of the captured Net Tax Capacity to be retained by the City, increase in total estimated tax increment expenditures or designation of additional property to be acquired by the authority shall be approved upon the notice and after the discussion, public hearing and findings required for approval of the original plan. The geographic area of a tax increment financing district may be reduced, but shall not be enlarged after five years following the date of certification of the original Net Tax Capacity by the county auditor. 'fax increment Financing District No, 12 may therefore, be expanded until 19954 01 Limitation on Administrative Expenses In accordance with Subdivision 14, and Subdivision 3, expenditures of an purchase of land Minnesota Minnesota Statutes, Section 469.1740 Statutes, Section 40.1761 administrative expenses means all authority other than amounts paid for the or amounts paid to contractors or others