Minnesota Session Laws - 1993, Regular Session

  
    Laws of Minnesota 1993 

                        CHAPTER 148-H.F.No. 951 
           An act relating to the city of Duluth; authorizing the 
          transfer of money from the gas division account in the 
          public utility fund to the general fund; amending Laws 
          1951, chapter 507, section 1, as amended. 
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA: 
    Section 1.  Laws 1951, chapter 507, section 1, as amended 
by Laws 1967, chapter 776, section 1, is amended to read:  
    Section 1.  [DULUTH, CITY OF; TRANSFER OF CERTAIN FUNDS.] 
    The city council of the city of Duluth is hereby authorized 
to transfer by ordinance from the gas division account of the 
public utility fund of the city to the general fund of such city 
any moneys therein which are not pledged to or needed for the 
payment of any bonds issued on account of the cost of the gas 
division and the interest on any such bonds, and which is not 
then needed for the construction, extension, operation, 
maintenance, and repair of the gas division, but there shall not 
be so transferred from the gas division account of the public 
utility fund in any calendar year an amount which exceeds five 
seven percent of the gross operating revenue of the gas division 
during the immediately preceding calendar year.  The amount of 
any transfer hereunder shall be an operating cost of the gas 
division. 
    Sec. 2.  [LOCAL APPROVAL; EFFECTIVE DATE.] 
    This act takes effect the day after compliance with 
Minnesota Statutes, section 645.021, subdivision 3, by the 
governing body of the city of Duluth. 
    Presented to the governor May 11, 1993 
    Signed by the governor May 13, 1993, 2:57 p.m.