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bonds are retired or until all capit�l and administrat�on <br />� e�penses of Development D�strict No. 1 have been paid. The <br />City intends �o use 100% of th� available tax increments for <br />the purposes set for�h in this tax increment financing plan. <br />See Section �Z regarding the City's election to contribute <br />to the metropolitan area-wide fiscal disparities pool. <br />L �: <br />L. <br />M. <br />N. <br />O. <br />Duration of the District <br />Pursuant to Minnesota Statutes, Se�tion 469.176, Subdivision <br />1, t�e duratio� o� a tax increment financing dis�rict �ithin <br />Dev�lopment District No. 1 must be indicated withir� the tax <br />increment �inancing plan. The duration of Tax Incr�ment <br />Financi�g Dist�ict No. 12 will be 25 years from the date of <br />receipt of the first tax increment. Thus, it is estimated <br />that Tax Increment Financing District No. 12, including any <br />modifications to the finance plan for subsequent phases or <br />other changes, would terminate twent�-five years from the <br />coll�ction of the first tax increment. <br />�stimated Impact on Other Taxing Jurisdictions <br />The estimated impact of Tax Iricrement Financing DiStrict No. <br />12 on the other taxing jurisdictions w�thin such District is <br />set forth in Exhibit B, <br />Modifications of the Tax Increm�r.t Financing District <br />In accordance with Minnesota Statutes, Section 469.175, <br />Subdivision 4, any reduction or enlargement financing <br />district, increas� in amount of bonded indebtedness to b� <br />incurred, including a determination or capitalize interest <br />on debt if that determination was not a part of the original <br />plan, or to increase or decrease the amount of interest on <br />the debt to be capitalized, increase in the portion of the <br />captured Net Tax Capacity to be xetained by the City, <br />increase in total estimated tax incremerit expenditures or <br />desig�nation of additional proper�y to be acquired by the <br />authority shall be apprQved upon the notice and after the <br />discussion, public hearing and findings required for <br />approval of the original plan. The geographic area of a tax <br />increment financing district ma� be reduced, but sha11 not <br />be enlarged after five years following the date of <br />certifica�ion of �he Original Net Tax Capacity by the <br />county auditor. Tax increment Financing District No. 12 may <br />ther�fore, be expanded until 1995. <br />Limitation on Administrative Exper�ses <br />In accordance with Minnesota Statutes, Secti�n 469.174, <br />Subdivision 14, and Minnesota Statute <br />Subdivision 3, <br />� expenditures of an <br />purchase of land <br />s, Sectinn 469.176, <br />administrative expenses means a11 <br />authority other than amounts paid for the <br />or amounts paa.d to contractors or others <br />