2005 Minnesota Statutes - 473.629 — Value of property for bond issues by school districts.

     473.629 Value of property for bond issues by school 
  districts. 


    As to any lands to be detached from any school district 
 under the provisions hereof, notwithstanding such prospective 
 detachment, the value of such lands and the net tax capacity of 
 taxable properties now located therein or thereon shall be and 
 constitute from and after the date of the enactment hereof a 
 part of the value of properties upon the basis of which such 
 school district may issue its bonds, the value of such lands for 
 such purpose to be 33-1/3 percent of the market value thereof as 
 determined and certified by said assessor to said school 
 district, and it shall be the duty of such assessor annually on 
 or before the tenth day of October from and after the passage 
 hereof, to so determine and certify; provided, however, that the 
 value of such detached lands and such taxable properties shall 
 never exceed 20 percent of the value of all properties 
 constituting and making up the basis aforesaid. 


    HIST: 1975 c 13 s 108; 1975 c 339 s 8; 1988 c 719 art 5 s 84; 
 1989 c 329 art 13 s 20