Minnesota Session Laws - 1984, Regular Session

  

                         Laws of Minnesota 1984 

                        CHAPTER 437-S.F.No. 746 
 relating to counties; permitting counties to issue 
notes to finance purchase of necessary capital 
equipment; amending Minnesota Statutes 1982, section 
373.01, by adding a subdivision. 
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA: 
    Section 1.  Minnesota Statutes 1982, section 373.01, is 
amended by adding a subdivision to read:  
    Subd. 3.  A county board may, by resolution and without 
referendum, issue capital notes subject to the county debt limit 
to purchase capital equipment useful for county purposes that 
has an expected useful life at least equal to the term of the 
notes.  The notes shall be payable in not more than five years 
and shall be issued on terms and in a manner the board 
determines.  A tax levy shall be made for payment of the 
principal and interest on the notes, in accordance with section 
475.61, as in the case of bonds.  For purposes of this 
subdivision, "capital equipment" means public safety, ambulance, 
road construction or maintenance, medical, and data processing 
equipment.  
    Approved April 23, 1984