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HF 2456

as introduced - 90th Legislature (2017 - 2018) Posted on 03/31/2017 07:18pm

KEY: stricken = removed, old language.
underscored = added, new language.
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Engrossments
Introduction Posted on 03/20/2017

Current Version - as introduced

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A bill for an act
 relating to taxation; modifying levy authority of watershed districts; amending
Minnesota Statutes 2016, section 103D.905, subdivision 9.

BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA:

Section 1.

Minnesota Statutes 2016, section 103D.905, subdivision 9, is amended to read:


Subd. 9.

Project tax levy.

In addition to other tax levies provided in this section or in
any other law, a watershed district may levy a tax:

(1) to pay the costs of projects undertaken by the watershed district deleted text begin whichdeleted text end new text begin thatnew text end are deleted text begin to bedeleted text end
funded, in whole or in part, with deleted text begin the proceeds ofdeleted text end new text begin money appropriated by law for new text end grants or
deleted text begin construction or implementationdeleted text end loans deleted text begin under sections 103F.701 to 103F.755deleted text end new text begin to the districtnew text end ;

(2) to pay the principal of, or premium or administrative surcharge, if any, and interest
on, the bonds and notes issued by the watershed district pursuant to section 103F.725; or

(3) to repay the construction or implementation loans under sections 103F.701 to
103F.755.

Taxes levied with respect to payment of bonds and notes shall comply with section
475.61.