Minnesota Session Laws - 1999, Regular Session

                            CHAPTER 246-H.F.No. 420 
                  An act relating to the city of Brooklyn Park; 
                  authorizing its economic development authority to 
                  exercise housing improvement powers and issue bonds. 
        BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA: 
           Section 1.  [BROOKLYN PARK; ECONOMIC DEVELOPMENT 
        AUTHORITY.] 
           Subdivision 1.  [HOUSING IMPROVEMENT AREAS.] The city of 
        Brooklyn Park may, by resolution, authorize its economic 
        development authority to exercise all or any part of the powers 
        of the city under Minnesota Statutes, sections 428A.11 to 
        428A.20.  The authority may establish one or more housing 
        improvement areas within the city under that authority. 
           Subd. 2.  [USE OF FEES.] The economic development authority 
        may use fees permitted under Minnesota Statutes, section 
        428A.14, subdivision 1, to reimburse the authority for housing 
        improvements or to pay bonds issued by the authority under 
        Minnesota Statutes, section 428A.16. 
           Subd. 3.  [BONDS.] With the approval of the governing body 
        of the city, the authority may issue bonds secured by fees 
        imposed under Minnesota Statutes, section 428A.14, and the full 
        faith, credit, and taxing power of the city. 
           Sec. 2.  [EFFECTIVE DATE.] 
           The provisions of this act are effective upon local 
        approval by the governing body of the city of Brooklyn Park 
        under Minnesota Statutes, section 645.021, and remain in effect 
        without regard to the provisions of Minnesota Statutes, section 
        428A.21. 
           Presented to the governor May 24, 1999 
           Signed by the governor May 25, 1999, 11:36 a.m.