2007 Minnesota Statutes

383E.20 BONDING FOR COUNTY LIBRARY BUILDINGS.
The Anoka County Board may, by resolution adopted by a four-sevenths vote, issue and
sell general obligation bonds of the county in the manner provided in chapter 475 to acquire,
better, and construct county library buildings. The bonds shall not be subject to the requirements
of sections 475.57 to 475.59. The maturity years and amounts and interest rates of each series
of bonds shall be fixed so that the maximum amount of principal and interest to become due in
any year, on the bonds of that series and of all outstanding series issued by or for the purposes of
libraries, shall not exceed an amount equal to the lesser of (i) .01 percent of the taxable market
value of all taxable property in the county, excluding any taxable property taxed by any city for
the support of any free public library, or (ii) $1,250,000. When the tax levy authorized in this
section is collected, it shall be appropriated and credited to a debt service fund for the bonds. The
tax levy for the debt service fund under section 475.61 shall be reduced by the amount available
or reasonably anticipated to be available in the fund to make payments otherwise payable from
the levy pursuant to section 475.61.
History: 1984 c 380 s 2; 1998 c 389 art 3 s 31; 2005 c 28 s 1