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• 61 MINNESOTA STATUTES 2010 469.059 • authority may furnish capital equipment to be located permanently or used exclusively on the lands or in the buildings if necessary to the purposes of the buildings or structures. The port authority must intend that the buildings, structures, and equipment be leased or sold to private persons to further develop the industrial district. The authority may acquire, develop, sell,or lease single or multiple tracts of land regardless of size, to be developed as a part of the industrial development of the district under sections 469.048 to 469.068. Subd. 13. Tax increment. The port authority may request that the county auditor of the county of its industrial development district certify the latest net tax capacity of the legally described taxable real property in the request or of all the taxable real property in the district. The auditor shall make the certification. Valuation that is contributed to an areawide tax base under chapter 473F must be excluded from the certification. Each year the auditor shall certify to the authority the amounts and percentages of increase or decrease in the certified net tax capacity. The part of the change that is contributed to an areawide tax base under chapter 473F must be excluded. The auditor shall compute the local tax rates of taxes against the original certified net tax capacity. The auditor shall also extend the rates against any increased net tax capacity. The auditor shall then send the resulting tax increment to the port authority. The procedure to be used for computing and sending the increments is provided in section 469.042, subdivisions 2 and 3. The port authority shall keep tax increments received for a district in a special account on its official books and records. • The auditor shall send the tax increments to the port authority until the cost, including interest, of redevelopment of the marginal property within the district has been fully reimbursed. The port authority shall report to the auditor when the cost is fully reimbursed. After that the auditor shall compute and extend the local tax rates against the entire net tax capacity of the property and send the taxes to all taxing districts. The city council may direct that part or all of the tax collected from the property be pledged and appropriated to pay general obligation bonds of the authority. After the auditor has certified the base net tax capacity used to compute tax increments and while the tax increment is kept in a separate account,the auditor must not include increases in the net tax capacity of the property in the net tax capacity of a taxing district to compute its debt or levy limit or to compute the amount of its state or federal aid. This subdivision applies to projects for which the port authority requested a certification on the project before August 2, 1979. Subd. 14. Foreign trade zone. The port authority may apply to the board defined in United States Code,title 19, section 81 a, for the right to use the powers provided in United States Code, title 19, sections 81a to 81u. If the right is granted,the authority may use the powers in or out of its port district. One authority may apply with another port authority. Subd. 15. Extension of other authorities' powers. The port authority may exercise powers and duties of a redevelopment agency under sections 469.152 to 469.165, for a purpose in sections 469.001 to 469.047 or 469.048 to 469.068. The port authority may also exercise the powers and duties in sections 469.001 to 469.047 and 469.048 to 469.068, for a purpose in sections 469.152 to 469.165. Subd. 16. Parking and other facilities. The port authority may operate and maintain a public parking or other public facility to promote development in a development district. Subd. 17. Secondary market. The port authority may sell, at private or public sale, at the price or prices determined by the authority, any note,mortgage, lease, sublease,lease purchase, or Copyright©2010 by the Office of the Revisor of Statutes, State of Minnesota.All Rights Reserved.