2005 Minnesota Statutes - 94.33 — Failure to assume and pay; withholding funds.

     94.33 Failure to assume and pay; withholding funds.  


    In the event any such county shall fail or neglect to 
 assume that portion of the school district or town bonds as 
 provided in sections 94.31 and 94.32 and any such bonds remain 
 unpaid at maturity, upon demand of the governing body of the 
 school district or town or the holder of any such bonds, the 
 commissioner of finance shall withhold from the payments to be 
 made to the county under the provisions of section 84A.23 the 
 sum necessary to pay such portion and pay the same to the 
 treasurer of the school district or town.  All money received by 
 any school district or town pursuant to sections 94.31 and 94.32 
 shall be applied solely to the payment of past due bonds and 
 interest.  


    HIST: (6452-17) Ex1936 c 47 s 4; 1973 c 492 s 14