HF 2763

as introduced - 85th Legislature (2007 - 2008) Posted on 12/15/2009 12:00am

A bill for an act
relating to Anoka County; modifying a provision governing bonding for county
libraries; amending Minnesota Statutes 2006, section 383E.20.

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

Section 1.

Minnesota Statutes 2006, section 383E.20, is amended to read:

383E.20 BONDING FOR COUNTY LIBRARY BUILDINGS.

The Anoka County Board may, by resolution adopted by a four-sevenths vote,
issue and sell general obligation bonds of the county in the manner provided in chapter
475 to acquire, better, and construct county library buildings. The bonds shall not be
subject to the requirements of sections 475.57 to 475.59. The maturity years and amounts
and interest rates of each series of bonds shall be fixed so that the maximum amount of
principal and interest to become due in any year, on the bonds of that series and of all
outstanding series issued by or for the purposes of libraries, shall not exceed an amount
equal to deleted text begin the lesser of (i) deleted text end .01 percent of the taxable market value of all taxable property in
the county, excluding any taxable property taxed by any city for the support of any free
public library, deleted text begin or (ii) $1,250,000 deleted text end . When the tax levy authorized in this section is collected,
it shall be appropriated and credited to a debt service fund for the bonds. The tax levy for
the debt service fund under section 475.61 shall be reduced by the amount available or
reasonably anticipated to be available in the fund to make payments otherwise payable
from the levy pursuant to section 475.61.

Sec. 2. new text begin EFFECTIVE DATE.
new text end

new text begin Section 1 is effective the day after the governing body of Anoka County and its
chief clerical officer timely complete their compliance with Minnesota Statutes, section
645.021, subdivisions 2 and 3.
new text end