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<br /> <br /> <br /> <br /> <br />3 <br /> <br /> <br />4 qualified obligations in proportion to their relative shares of <br /> <br />5 all payments due on all preexisting obligations. <br /> <br />6 (b) If the authority elects to extend the duration of a <br /> <br />7 district under this section and if increments from one or more <br /> <br /> <br />8 other districts are pledged to pay preexisting obligations of <br /> <br />9 the extended district, increments from all of the districts may <br /> <br />10 only be used to pay preexistino obligations and-administrative <br /> <br /> <br />11 expenses. <br /> <br />12 Subd. 8. [DECERTIFICATION. ] An extended district must be <br /> <br />13 decertified at the end of the first calendar year when <br /> <br />14 sufficient increments have been received to pay the qualified <br /> <br /> <br />15 obligations of the extended district. Any remaining unspent <br /> <br />16 increments must be distributed as excess increments under <br /> <br />17 section 469.176, subdivision 2, clause (4). <br /> <br />18 [EFFECTIVE DATE.} This section is effective the day <br /> <br />19 following final enactment and applies to districts for which the <br /> <br /> <br />20 request for certification was made on, before, or after August <br /> <br />21 1, 1979, and before August 1, 2001. <br /> <br />22 Sec. 9. Minnesota Statutes 2002, section 474A.061, <br /> <br />23 subdivision 1, as amended by Laws 2003, chapter 127, article 12, <br /> <br /> <br />24 section 22, is amended to read: <br /> <br />25 Subdivision 1. [ALLOCATION APPLICATION.} (a) An issuer may <br /> <br /> <br />26 apply for an allocation under this section by submitting to the <br /> <br /> <br />27 department an application on forms provided by the department, <br /> <br />28 accompanied by (1) a preliminary resolution, (2) a statement of <br /> <br /> <br />29 bond counsel that the proposed issue of obligations requires an <br /> <br />30 allocation under this chapter and the Internal Revenue Code, (3) <br /> <br />31 the type of qualified bonds to be issued, (4) an application <br /> <br /> <br />32 deposit in the amount of one percent of the requested allocation <br /> <br />33 before the last Monday in July, or in the amount of two percent <br /> <br />34 of the requested allocation on or after the last Monday in July, <br /> <br />35 (5) a public purpose scoring worksheet for manufacturing project <br /> <br />36 and enterprise zone facility project applications, and (6) for <br /> <br /> <br />Article 10 <br /> <br />Section 9 <br /> <br />166 <br />