For each development or renewal plan for any development or renewal area under section 40-58-20 in existence at the end of a calendar year, the governing body of the municipality shall file an annual report with the department of commerce, by the following July thirty-first, which is in a format prescribed by the department. The report must include:

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Terms Used In North Dakota Code 40-58-20.3

1.    The total of outstanding indebtedness.

2.    The balance of funds on hand.

3.    The name of the tax increment financing district.