HF 2079

as introduced - 79th Legislature (1995 - 1996) Posted on 12/15/2009 12:00am

  1.1                          A bill for an act 
  1.2             relating to the city of New Market; permitting the 
  1.3             city to incur debt not subject to the general debt 
  1.4             limit. 
  1.5   BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA: 
  1.6      Section 1.  [NEW MARKET DEBT LIMIT.] 
  1.7      Bonded indebtedness of the city of New Market incurred for 
  1.8   a building to be used for a city hall, fire station, and other 
  1.9   public purposes, as approved by the voters of the city at an 
  1.10  election on November 7, 1995, may be incurred and refunded 
  1.11  without being subject to the net debt limit provided by 
  1.12  Minnesota Statutes, section 475.53, and shall be disregarded in 
  1.13  the calculation of debt subject to that limit. 
  1.14     Sec. 2.  [LOCAL APPROVAL.] 
  1.15     This act takes effect the day after the governing body of 
  1.16  the city of New Market complies with the provisions of Minnesota 
  1.17  Statutes, section 645.021, subdivision 3.