HF 443

1st Engrossment - 80th Legislature (1997 - 1998) Posted on 12/15/2009 12:00am

  1.1                          A bill for an act 
  1.2             relating to the Brooklyn Park economic development 
  1.3             authority; authorizing the certification of certain 
  1.4             unpaid charges to the Hennepin county auditor with 
  1.5             taxes against certain residential townhome and 
  1.6             condominium units for collection as other taxes. 
  1.7   BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA: 
  1.8      Section 1.  [DEFINITIONS.] 
  1.9      Subdivision 1.  [SCOPE.] For the purpose of sections 2 and 
  1.10  3, the terms defined in this section have the meanings given 
  1.11  them. 
  1.12     Subd. 2.  [ASSOCIATION.] "Association" has the meaning 
  1.13  given it in Minnesota Statutes, section 515B.1-103, paragraph 
  1.14  (4). 
  1.15     Subd. 3.  [AUTHORITY.] "Authority" means the Brooklyn Park 
  1.16  economic development authority. 
  1.17     Subd. 4.  [COMMON ELEMENTS.] "Common elements" has the 
  1.18  meaning given it in Minnesota Statutes, section 515B.1-103, 
  1.19  paragraph (7). 
  1.20     Subd. 5.  [COMMON ELEMENT IMPROVEMENTS.] "Common element 
  1.21  improvements" means any physical repair, replacement, or 
  1.22  modification of, or addition to, the common elements of a common 
  1.23  interest community. 
  1.24     Subd. 6.  [COMMON INTEREST COMMUNITY.] "Common interest 
  1.25  community" has the meaning given it in Minnesota Statutes, 
  1.26  section 515B.1-103, paragraph (10). 
  2.1      Subd. 7.  [UNIT.] "Unit" has the meaning given it in 
  2.2   Minnesota Statutes, section 515B.1-103, paragraph (33). 
  2.3      Subd. 8.  [UNIT OWNER.] "Unit owner" has the meaning given 
  2.4   it in Minnesota Statutes, section 515B.1-103, paragraph (35). 
  2.5      Sec. 2.  [AUTHORITY GRANTED.] 
  2.6      If: 
  2.7      (1) the authority lends or agrees to lend funds to an 
  2.8   association for the provision or construction of common element 
  2.9   improvements; 
  2.10     (2) the association has duly levied common expense 
  2.11  assessments against the units in order to provide the 
  2.12  association with funds to: 
  2.13     (i) pay principal and interest on the loan; 
  2.14     (ii) provide coverage in excess of principal and interest 
  2.15  payments on the loan; 
  2.16     (iii) create or replenish reserve funds pledged as security 
  2.17  for the loan; or 
  2.18     (iv) pay expenses related to the loan or the assessments 
  2.19  that are identified in the loan agreement between the authority 
  2.20  and the association; 
  2.21     (3) a unit owner has become delinquent in the payment of 
  2.22  any assessment installment; and 
  2.23     (4) the association has declared the entire amount of the 
  2.24  assessment due and owing pursuant to Minnesota Statutes, section 
  2.25  515B.3-115, paragraph (k), then 
  2.26  the authority may certify the delinquent assessment, together 
  2.27  with interest and penalties, to the county auditor for 
  2.28  collection to the same extent and in the same manner provided by 
  2.29  law for the assessment and collection of real estate taxes. 
  2.30     Sec. 3.  [DISCLOSURE REQUIRED.] 
  2.31     For any common interest community located in the city of 
  2.32  Brooklyn Park, the disclosure statement required under Minnesota 
  2.33  Statutes, section 515B.4-102, must include a description of the 
  2.34  potential applicability and consequences of section 2. 
  2.35     Sec. 4.  [EFFECTIVE DATE.] 
  2.36     Sections 1 to 3 are effective the day after the governing 
  3.1   body of Brooklyn Park complies with Minnesota Statutes, section 
  3.2   645.021, subdivision 3.