Minnesota Session Laws - 1986, Regular Session

  

                         Laws of Minnesota 1986 

                        CHAPTER 364-H.F.No. 2195 
           An act relating to the city of McIntosh; authorizing 
          the city to issue bonds in excess of its net debt 
          limitations. 
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA: 
    Section 1.  [CITY OF MCINTOSH; BOND ISSUE.] 
    The city council of the city of McIntosh may issue and sell 
general obligation bonds in a principal amount not to exceed 
$300,000 as authorized by the electors of the city at the 
election held on November 5, 1985, for the purposes specified in 
the question presented to the electors.  The bonds issued 
pursuant to this act are not subject to the limit on net debt 
imposed under Minnesota Statutes, chapter 475.  Any levy for the 
payment of debt service on bonds issued pursuant to this act is 
not subject to the levy limitation of Minnesota Statutes, 
section 275.11, or any other law. 
    Sec. 2.  [EFFECTIVE DATE.] 
    Section 1 is effective the day following final enactment 
pursuant to Minnesota Statutes, section 645.023, subdivision 1, 
clause (a). 
    Approved March 19, 1986