2005 Minnesota Statutes - 88.40 — Bond issues to pay for improvements.

     88.40 Bond issues to pay for improvements.  


    The county board of each county wherein any improvement is 
 ordered constructed under the provisions of sections 88.28 to 
 88.46 is hereby authorized to issue the bonds of the county in 
 such amount as may be necessary to defray, in whole or in part, 
 the expense incurred or to be incurred in establishment and 
 completion of the improvement, together with all expenses 
 incidental thereto; and the provisions of General Statutes 1923, 
 section 6696, shall apply thereto and the county board is hereby 
 authorized to exercise all the authority specified in General 
 Statutes 1923, section 6696, in providing the funds for the 
 completion of any improvement authorized by the provisions of 
 sections 88.28 to 88.46; and where the term "drainage ditch" or 
 "drainage bond" appears in General Statutes 1923, section 6696, 
 the same, for the purposes of sections 88.28 to 88.46, shall be 
 construed as reading "improvement" or "land improvement bond," 
 as the case may be.  In the event the bonds authorized under the 
 terms of sections 88.28 to 88.46 are not sold at advertised 
 sale, the county board may let contracts as herein provided when 
 the contractor is willing to accept payment for the contract in 
 bonds at par; provided, that no county may incur any 
 indebtedness for the purposes of sections 88.28 to 88.46 in 
 excess of five percent of its taxable valuation, exclusive of 
 money and credits.  


    HIST: (4031-48) 1925 c 263 s 13