Net debt incurred by any political subdivision or other public corporation for which any law or any charter provision provides a limit expressed as a percentage of the assessed value or the full and true value of taxable property (except any adjusted assessed value determined by the commissioner under section 127A.48) shall not exceed 33-1/3 percent of such limit until and unless such law or charter is amended to provide a different limit.
Official Publication of the State of Minnesota
Revisor of Statutes