471.71 DEFINITIONS.
Subdivision 1.
Terms. For the purposes of sections
471.71 to
471.83 the terms defined in this
section shall have the meanings ascribed to them unless the context otherwise requires.
Subd. 2.
Municipality. "Municipality" includes cities, towns, and school districts.
Subd. 3.
City, town, school district. "City," "town," or "school district" include only those
of the class made subject to sections
471.71 to
471.83 by sections
471.72 and
471.73.
Subd. 4.
Unfunded indebtedness. "Unfunded indebtedness" includes all general obligations
and indebtedness except bonds and except indebtedness which is payable from special
assessments against benefited property.
Subd. 5.
Year. "Year" means calendar year, except that it means "fiscal year" in the case of
any school district or city as to which both of the following conditions exist:
(1) in the case of a city, the charter or law under which it is organized provides for a fiscal
year differing from the calendar year; in the case of a school district, the books of account are kept
on the basis of a fiscal year differing from the calendar year;
(2) the governing body of such city or school district shall have adopted a resolution
determining that its operation under sections
471.71 to
471.83 shall be on the basis of such fiscal
year and giving the date of the beginning of that year.
History: 1943 c 526 s 1 subd (a); 1951 c 63 s 1; 1973 c 123 art 5 s 7