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HF 3044

as introduced - 87th Legislature (2011 - 2012) Posted on 04/30/2012 11:05am

KEY: stricken = removed, old language.
underscored = added, new language.

Bill Text Versions

Engrossments
Introduction Posted on 04/30/2012

Current Version - as introduced

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A bill for an act
relating to property taxation; authorizing borrowing for local project costs in
conjunction with a trunk highway project; providing for a supplemental fiscal
disparities distribution; amending Minnesota Statutes 2010, section 473F.08, by
adding a subdivision.

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

Section 1.

Minnesota Statutes 2010, section 473F.08, is amended by adding a
subdivision to read:


new text begin Subd. 3c. new text end

new text begin Local project costs of trunk highway system bridge. new text end

new text begin By August 1
of each year in which a principal or interest payment will be due in the following year
on the obligations or the loan agreement authorized in section 2, the city of Oak Park
Heights shall certify the amount of debt service required for the following year to the
administrative auditor. The administrative auditor must require each county auditor to
reduce each jurisdiction's areawide levy under subdivision 3, clause (a), by a percentage
equal to the amount certified by the city of Oak Park Heights divided by the sum of each
jurisdiction's original areawide levy determined under subdivision 3, clause (a). The
Washington County auditor shall annually add an amount to the city of Oak Park Heights'
areawide levy under subdivision 3, clause (a), equal to the amount certified by the city of
Oak Park Heights for the debt service requirements for that year under section 2. The total
areawide portion of the levy for the city of Oak Park Heights, including the additional
amount for debt service certified pursuant to this subdivision, shall be certified by the
Washington County auditor to the administrative auditor pursuant to subdivision 5. The
authorization for an addition to the distribution levy under this section shall expire eight
years after the first year in which it is exercised.
new text end

new text begin EFFECTIVE DATE. new text end

new text begin This section is effective for taxes payable in 2013 and
thereafter.
new text end

Sec. 2. new text beginDEBT OBLIGATIONS AUTHORIZED; CITY OF OAK PARK
HEIGHTS.
new text end

new text begin Notwithstanding the referendum requirement in Minnesota Statutes, section 475.58,
subdivision 1, or any other provision of law, the city of Oak Park Heights may issue and
sell obligations, in an amount not to exceed $2,000,000, or enter into a loan agreement
with the Department of Transportation to pay for local bridge costs, along with costs of
issuance of the obligations or loan agreement and capitalized interest. "Local bridge
costs" means the total amount of money expended by the city of Oak Park Heights for
various utility improvements and relocations, storm water improvements, and other
related improvements that (1) are attributable to, or result from, improvements needed to
construct a new trunk highway bridge over the St. Croix River in Washington County, and
(2) are not offset by other sources of state or federal funds. The obligations to be issued or
the loan agreement to be entered into under this authority are to be secured primarily from
the revenues described in Minnesota Statutes, section 473F.08, subdivision 3c, and shall
not be subject to net debt limits under Minnesota Statutes, section 475.53.
new text end

new text begin EFFECTIVE DATE; LOCAL APPROVAL. new text end

new text begin This section is effective the day after
the governing body of the city of Oak Park Heights and its chief clerical officer timely
complete their compliance with Minnesota Statutes, section 645.021, subdivisions 2 and 3.
new text end