Subdivision 1. Levy limit.
Notwithstanding anything to the contrary contained in the
charter of the city of Duluth, any ordinance thereof, or any statute applicable thereto, limiting
the amount levied in any one year for general or special purposes, the city council of the city of
Duluth shall each year levy a tax in an amount not to exceed 0.07253 percent of taxable market
value, by ordinance. An ordinance fixing the levy shall take effect immediately upon its passage
and approval. The proceeds of the levy shall be paid into the city treasury and deposited in the
operating fund provided for in section
458A.24, subdivision 3
Subd. 2. For bus system, authority.
All moneys received by the city from the excess tax levy
hereinabove provided for shall be used for the operation, promotion, maintenance or betterment
of the bus transportation system; and for the expenses of the authority provided for herein.
Subd. 3. Debt.
The authority, if authorized by an affirmative vote of at least five of its
members, and approval by the city council, may borrow money on such terms as it deems proper,
and may issue certificates of indebtedness for anticipation of the collection of the excess tax levy
as hereinabove provided for upon like procedure and subject to like provisions and limitations as
provided by section
, and acts amendatory thereof or supplementary thereto.
History: 1969 c 720 s 11; 1979 c 169 s 3; 1981 c 363 s 57; 1989 c 277 art 4 s 57