1997 Minnesota Code
Chapters 466A - 470 Local Economic Development
Chapter 469 Economic Development
Section 469.138 Bonding authority.
469.138 Bonding authority.
A city may by resolution of its governing body authorize the issuance of bonds to provide funds for payment of project costs incurred and to be incurred in the acquisition or betterment of projects, or for refunding any outstanding bonds issued by it for any such purpose. The city may pledge to the payment of the bonds and the interest thereon, its full faith, credit, and taxing powers, or the proceeds of any designated tax levies, or the gross or net revenues to be derived from any project operated by or for the city, or any combination thereof. Taxes levied for the payment of the bonds and interest are not subject to levy limits. Bonds issued pursuant to this section may be sold at public or private sale upon the conditions the governing body of the city determines, except that any bonds to which the full faith and credit and taxing powers of the city are pledged shall be sold in accordance with the provisions of section 475.60.
HIST: 1987 c 291 s 139
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