Allows the city of Oakdale to use tax increment financing funds until December 31, 2027.
The bill authorizes the city of Oakdale to spend, loan, or invest tax increment financing funds collected from TIF District No. 1-4 or TIF District No. 1-6 until December 31, 2027. This provision overrides the usual requirement to return the funds to the district. Any unspent funds must be returned to the district by the specified date. The bill is effective once the city's governing body and chief clerical officer meet certain statutory requirements.
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