Minnesota Session Laws - 1986, Regular Session

  

                         Laws of Minnesota 1986 

                        CHAPTER 419-S.F.No. 2127 
           An act relating to the city of Cologne; exempting 
          certain general obligation bonds and tax levies from 
          debt and levy limitations. 
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA: 
    Section 1.  [AUTHORIZATION.] 
    The city of Cologne, Carver county, upon authorization by 
the electors of the city, may issue its general obligation bonds 
in the principal amount not to exceed $350,000 to finance the 
acquisition and betterment of a fire station and city hall 
within the city.  The bonds may be issued notwithstanding the 
debt limitation contained in Minnesota Statutes, section 475.53, 
subdivision 1.  The levy of taxes required by Minnesota 
Statutes, section 475.61 to pay the principal of and interest on 
the bonds shall not be subject to any levy limitations, or be 
included in computing or applying any levy limitation applicable 
to the city. 
    Sec. 2.  [EFFECTIVE DATE.] 
    This act is effective the day after the filing of a 
certificate of local approval by the governing body of the city 
of Cologne in compliance with Minnesota Statutes, section 
645.021, subdivision 3. 
    Approved March 24, 1986