2000 Minnesota Statutes

     465.73 Town halls; fire halls or rescue equipment; loans 
  to political subdivisions. 

    For purposes of constructing, repairing, or acquiring town 
 halls, fire halls or fire or rescue equipment any city, county, 
 or town may borrow up to $250,000 from funds granted to a rural 
 electric cooperative organized under chapter 308A by, directly 
 from or guaranteed by the Farmers Home Administration or other 
 agency of the United States Department of Agriculture on a note 
 secured by a mortgage on the property purchased with the 
 borrowed funds.  The city, county, or town may assign or pledge 
 revenues from the town halls, fire or rescue department, or fire 
 hall or any other available funds, including taxes levied 
 pursuant to section 475.61 to the Farmers Home Administration or 
 other agency of the United States Department of Agriculture or 
 its guaranteed lender or a rural electric cooperative organized 
 under chapter 308A as its grantee to repay the loan.  The amount 
 of the obligation shall not be included when computing the net 
 debt of the city, county, or town.  An election shall not be 
 required to authorize the note and mortgage or assignment of 
 revenues. 

    HIST: 1976 c 140 s 1; 1977 c 210 s 1; 1978 c 476 s 1; 1Sp1989 
 c 1 art 5 s 34; 1991 c 120 s 1; 1995 c 256 s 6