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400.09 REVENUE BONDS.
The county may issue revenue bonds, payable solely from net revenues derived from rates
and charges established as provided in section 400.08 in excess of current, reasonable, and
necessary costs of the operation and maintenance of the county solid waste management program,
for the acquisition or betterment of facilities for the program, or for refunding outstanding
revenue bonds. It may irrevocably pledge and appropriate for the payment of the revenue bonds
and interest thereof the net revenues from the operation of all or any defined portion of the solid
waste management program, and by resolution of the board or by an indenture executed under
its authority may make any and all covenants with the bondholders, or with a trustee for the
bondholders, which are determined by it to be necessary or proper to assure the marketability
of the bonds, the completion of the facilities financed thereby, the segregation of the revenues
pledged in a special account in the solid waste management fund, and the establishment,
maintenance, and collection of rates and charges sufficient to produce net revenues adequate
to pay the bonds and interest thereon when due and to create and maintain a reserve for that
purpose, and may mortgage the site and facilities to the trustee. The bonds shall be authorized,
issued, and sold as provided in chapter 475.
History: 1971 c 403 s 9

Official Publication of the State of Minnesota
Revisor of Statutes