Minnesota Session Laws - 1987, Regular Session

  

                         Laws of Minnesota 1987 

                         CHAPTER 6-H.F.No. 191 
           An act relating to the city of St. Stephen; 
          authorizing the issuance of bonds for the construction 
          of a city civic building. 
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA: 
    Section 1.  [ST. STEPHEN; BONDS.] 
    The city of St. Stephen in Stearns county, by resolution of 
its city council, may issue and sell general obligation bonds of 
the city in a principal amount not to exceed $265,000 to finance 
the construction of a building to be used by the city as a city 
civic building as authorized by the electors of the city at the 
election held on February 3, 1987.  The bonds shall be issued 
and sold in accordance with Minnesota Statutes, chapter 475, 
except that the amount of bonds issued shall not be included in 
computing any debt limitation applicable to the city, and 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 limitation or be included in computing or 
applying any levy limitation applicable to the city.  
    Sec. 2.  [EFFECTIVE DATE.] 
    Pursuant to Minnesota Statutes, section 645.023, 
subdivision 1, paragraph (a), this act is effective without 
local approval on the day following final enactment. 
    Approved March 25, 1987