Minnesota Session Laws - 1987, Regular Session

  

                         Laws of Minnesota 1987 

                        CHAPTER 188-H.F.No. 1266 
           An act relating to Hennepin county; providing bonding 
          authority for library construction and betterment; 
          amending Minnesota Statutes 1986, section 383B.245. 
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA: 
    Section 1.  Minnesota Statutes 1986, section 383B.245, is 
amended to read:  
    383B.245 [MILL LEVY.] 
    The county board may also levy a tax of not more than 
two-thirds mills on taxable property within the county outside 
of any city in which is situated a free public library of the 
city to acquire, better and construct county library buildings 
and branches and to pay principal and interest on bonds issued 
for that purpose.  The levy of the tax shall not cause the 
amount of other taxes levied or to be levied by the county, 
which are subject to any limitation, to be reduced in any amount 
whatsoever. 
    The county board may by resolution adopted by a 
five-sevenths vote issue and sell general obligation bonds of 
the county in the amount of $20,000,000 in the manner provided 
in sections 475.60 to 475.73.  The total amount of the bonds 
outstanding at any time shall not exceed $15,500,000.  The bonds 
shall not be subject to the limitations of sections 475.51 to 
475.59, but 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 two-thirds mills times the assessed value of all taxable 
property in the county, which was not taxed in 1980 1987 by any 
city for the support of any free public library, as last finally 
equalized before the issuance of the new series.  When the tax 
levy authorized in this section is collected it shall be 
appropriated and credited to a debt service fund for the bonds 
in amounts required each year in lieu of a countywide tax levy 
for the debt service fund under section 475.61.  The authority 
granted the board by this paragraph is the same authority, 
reenacted without change, granted by Laws 1969, chapter 967, 
section 1, as amended. 
     Sec. 2.  [EFFECTIVE DATE.] 
     Section 1 takes effect the day after compliance with 
Minnesota Statutes, section 645.021, subdivision 3, by the 
Hennepin county board. 
    Approved May 20, 1987