Laserfiche WebLink
4 <br />ARTICLE V1 <br />Taxes <br />fore <br />Section 6.1. Tax <br />Increment Certification. an ac beinorem nt distcict <br />once of the BonClty shall have estabitshed a tau of the <br />tam ds, the ant District and shall request that the county auditor <br />within the Devetopm <br />Coin the <br />unty certify the Assessed 'Market Value of all taxab a The tatty <br />District pursuant to h1in�= statute teSection <br />b such7real property to <br />Development the tax Increment genera Y <br />shall pledge and appropriate ee:mncr if n end Interest on the Bonds» <br />the payment of the principal aft p all real <br />The Redeveloper shall pay <br />Sertttote 6•2• Real Prreer�t to e e Redevelopment Property <br />property taxes payab e w � <br />The Redeva�per agrees that prior to the Maturity Date it will not oeeuao <br />ib� art taxes paid to respect of the Redevelopment <br />a reductlon in the read property the principal and �ntecest due on the <br />property below the ®mount sufficient to pay Property or any part <br />thraight (A) willful destruction of ththReC`teon he cou amcssoc of the <br />B'°�'°` Portion of �e <br />thereofl (B) a request to the <br />ud SUSSOr f Value of all or any Po f the City or <br />County to reduce the petition et the board of equalluatto <br />Redavelopment Property; iCi a P to reduce the Assam Market Value of aD <br />the board of erquallieltion of the County etition to the baacd of <br />rtion of the: Redevelopment Property` (D) a p <br />or any t}o State or the commissioner of revenue of the State to reduce the <br />equalization of the Portion of the Redevelopment Pc $rt��i �n <br />Aas'esse d Me rieert value of all or any <br />to a District Court of the State or the lu State ferderalalaw 'ski A <br />actionment Property' tF? an <br />Minnesota Statutes, teMarteeit Vtihz� f the Redevelop i an abatement <br />ra art on n the Sussedsimilar <br />application to the commissioner of revenue ta Sttitu State Chapter <br />haps requesting <br />or any al <br />of rtel property taxes pursuant to ��t�R whether administrative, 1� <br />State or federal taws and (0) tiny of ar pracewit�n the Cltyt the County, ar the <br />or equitabtert with any adrninhttcetive body The <br />court of the State or the federal several ofpropertytaxonpGr <br />the <br />'State of with any Date, tipp1Y for a defers P <br />shall note prior to that Maturity <br />Redevelop <br />tnat,k Pro -party pursuant to Mlnnasotti Statut, �a� Section 2 3.66t or an <br />slmtitir law. <br />um <br />(a) Prio <br />r to conva��tinca of the Redevelopment property �lnrteso � laws the <br />Improvements to a condomlolu� udeadn the random nium associtition dead ntoof <br />Retdevelaper shall cause to be in <br />a covenant �quicing Individual tissactatlon members to make timely payment <br />their real property taxes and asses'ments, <br />ent ~ Pctae to execution of the <br />Section 6. ursuant3. As assment A t�temn Article In of this Agreement# the <br />to <br />Redevelopment Property zed p <br />e eat shall execute the Assessment Agrb ,� of #this Agreement - <br />In <br />the <br />snd the Y resment contained In Schedu-- <br />the form of the Assessment Ag inimum improvements to be sat or exth isting <br />th6 <br />The Minimum Market value of the M, t tax Increment to amortize <br />Oun <br />mill <br />Assessment <br />Agreement aha,11 be equal to the Le Ofno! ntcht considering <br />� mill rate andassessment n 15)year � will genera <br />the Bonds In f t <br />14 <br />