1998 Minnesota Statutes

     469.138 Bonding authority. 

    A city may by resolution of its governing body authorize 
 the issuance of bonds to provide funds for payment of project 
 costs incurred and to be incurred in the acquisition or 
 betterment of projects, or for refunding any outstanding bonds 
 issued by it for any such purpose.  The city may pledge to the 
 payment of the bonds and the interest thereon, its full faith, 
 credit, and taxing powers, or the proceeds of any designated tax 
 levies, or the gross or net revenues to be derived from any 
 project operated by or for the city, or any combination 
 thereof.  Taxes levied for the payment of the bonds and interest 
 are not subject to levy limits.  Bonds issued pursuant to this 
 section may be sold at public or private sale upon the 
 conditions the governing body of the city determines, except 
 that any bonds to which the full faith and credit and taxing 
 powers of the city are pledged shall be sold in accordance with 
 the provisions of section 475.60.  

    HIST: 1987 c 291 s 139