Minnesota Legislature
Office of the Revisor of Statutes
2006 Minnesota Statutes
This is an historical version of this statute chapter. Also view the most recent published version.
441.52 BONDS SOLD NOTWITHSTANDING LIMITATIONS.
The bonds authorized by sections 441.47 to 441.55 may be issued and sold by any such city
in accordance with the terms of the ordinance adopted therefor, notwithstanding any limitation
contained in the charter of the city or in any law of the state prescribing or fixing any limit upon
the bonded indebtedness of any such city, and such bonds shall not create or constitute an
indebtedness of any such city within the meaning of any constitutional, statutory, or charter
limitation upon the incurring of indebtedness, but such bonds shall be payable only from the net
income and revenues of any such bridges pledged to the payment thereof after payment of the
actual operating expenses and actual cost of maintenance and repair of any such bridges under
economical management, and while any of the bonds are outstanding, such net income and
revenues shall be used solely for the payment of the principal of and interest on the bonds, and
the bonds and the interest thereon shall constitute a first and prior lien on and against such net
income and revenues and on and against all funds, from whatever source, paid into or set apart
for the sinking fund hereinabove designated.
History: 1941 c 286 s 6; 1973 c 123 art 5 s 7
The bonds authorized by sections 441.47 to 441.55 may be issued and sold by any such city
in accordance with the terms of the ordinance adopted therefor, notwithstanding any limitation
contained in the charter of the city or in any law of the state prescribing or fixing any limit upon
the bonded indebtedness of any such city, and such bonds shall not create or constitute an
indebtedness of any such city within the meaning of any constitutional, statutory, or charter
limitation upon the incurring of indebtedness, but such bonds shall be payable only from the net
income and revenues of any such bridges pledged to the payment thereof after payment of the
actual operating expenses and actual cost of maintenance and repair of any such bridges under
economical management, and while any of the bonds are outstanding, such net income and
revenues shall be used solely for the payment of the principal of and interest on the bonds, and
the bonds and the interest thereon shall constitute a first and prior lien on and against such net
income and revenues and on and against all funds, from whatever source, paid into or set apart
for the sinking fund hereinabove designated.
History: 1941 c 286 s 6; 1973 c 123 art 5 s 7
Official Publication of the State of Minnesota
Revisor of Statutes