2005 Minnesota Statutes - 103E.655 — Payment of drainage system costs.

     103E.655 Payment of drainage system costs. 


    Subdivision 1.    Payment made from drainage system 
 account.  The costs for a drainage project proceeding and 
 construction must be paid from the drainage system account by 
 drawing on the account. 


    Subd. 2.    Insufficient funds; transfer from other 
 accounts.  If money is not available in the drainage system 
 account on which the warrant is drawn, the board may, by 
 unanimous resolution, transfer funds from any other drainage 
 system account under its jurisdiction or from the county general 
 revenue fund to the drainage system account.  If the board 
 transfers money from another account or fund to a drainage 
 system account, the money plus interest must be reimbursed from 
 the proceeds of the drainage system that received the transfer. 
 The interest must be computed for the time the money is actually 
 needed at the same rate per year charged on drainage liens and 
 assessments.  


    Subd. 3.    Warrant on account with insufficient funds; 
 interest on warrant.  If a warrant is issued by the auditor 
 under this chapter and there is not enough money in the drainage 
 system account to pay the warrant when it is presented, the 
 county treasurer shall endorse the warrant "Not paid for want of 
 funds" with the date and treasurer's signature.  Interest on the 
 warrant must be at the rate of six percent per year and paid 
 annually from available funds until the warrant is called in and 
 paid by the treasurer.  Interest may not be paid on a warrant 
 after money is available to the treasurer to pay the warrants. 
 The warrant is a general obligation of the county issuing the 
 warrant.  


    HIST: 1990 c 391 art 5 s 88