2005 Minnesota Statutes

     373.40 Capital improvement bonds. 

    Subdivision 1.    Definitions.  For purposes of this 
 section, the following terms have the meanings given. 

    (a) "Bonds" means an obligation as defined under section 
 475.51. 

    (b) "Capital improvement" means acquisition or betterment 
 of public lands, buildings, or other improvements within the 
 county for the purpose of a county courthouse, administrative 
 building, health or social service facility, correctional 
 facility, jail, law enforcement center, hospital, morgue, 
 library, park, qualified indoor ice arena, roads and bridges, 
 and the acquisition of development rights in the form of 
 conservation easements under chapter 84C.  An improvement must 
 have an expected useful life of five years or more to qualify.  
 "Capital improvement" does not include light rail transit or any 
 activity related to it or a recreation or sports facility 
 building (such as, but not limited to, a gymnasium, ice arena, 
 racquet sports facility, swimming pool, exercise room or health 
 spa), unless the building is part of an outdoor park facility 
 and is incidental to the primary purpose of outdoor recreation. 

    (c) "Metropolitan county" means a county located in the 
 seven-county metropolitan area as defined in section 473.121 or 
 a county with a population of 90,000 or more. 

    (d) "Population" means the population established by the 
 most recent of the following (determined as of the date the 
 resolution authorizing the bonds was adopted): 

    (1) the federal decennial census, 

    (2) a special census conducted under contract by the United 
 States Bureau of the Census, or 

    (3) a population estimate made either by the Metropolitan 
 Council or by the state demographer under section 4A.02. 

    (e) "Qualified indoor ice arena" means a facility that 
 meets the requirements of section 373.43. 

    (f) "Tax capacity" means total taxable market value, but 
 does not include captured market value. 

    Subd. 2.    Application of election requirement.  (a) 
 Bonds issued by a county to finance capital improvements under 
 an approved capital improvement plan are not subject to the 
 election requirements of section 375.18 or 475.58.  The bonds 
 must be approved by vote of at least three-fifths of the members 
 of the county board.  In the case of a metropolitan county, the 
 bonds must be approved by vote of at least two-thirds of the 
 members of the county board. 

    (b) Before issuance of bonds qualifying under this section, 
 the county must publish a notice of its intention to issue the 
 bonds and the date and time of a hearing to obtain public 
 comment on the matter.  The notice must be published in the 
 official newspaper of the county or in a newspaper of general 
 circulation in the county.  The notice must be published at 
 least 14, but not more than 28, days before the date of the 
 hearing. 

    (c) A county may issue the bonds only upon obtaining the 
 approval of a majority of the voters voting on the question of 
 issuing the obligations, if a petition requesting a vote on the 
 issuance is signed by voters equal to five percent of the votes 
 cast in the county in the last general election and is filed 
 with the county auditor within 30 days after the public 
 hearing.  The commissioner of revenue shall prepare a suggested 
 form of the question to be presented at the election.  

    Subd. 3.    Capital improvement plan.  (a) A county may 
 adopt a capital improvement plan.  The plan must cover at least 
 the five-year period beginning with the date of its adoption.  
 The plan must set forth the estimated schedule, timing, and 
 details of specific capital improvements by year, together with 
 the estimated cost, the need for the improvement, and sources of 
 revenues to pay for the improvement.  In preparing the capital 
 improvement plan, the county board must consider for each 
 project and for the overall plan: 

    (1) the condition of the county's existing infrastructure, 
 including the projected need for repair or replacement; 

    (2) the likely demand for the improvement; 

    (3) the estimated cost of the improvement; 

    (4) the available public resources; 

    (5) the level of overlapping debt in the county; 

    (6) the relative benefits and costs of alternative uses of 
 the funds; 

    (7) operating costs of the proposed improvements; and 

    (8) alternatives for providing services more efficiently 
 through shared facilities with other counties or local 
 government units. 

    (b) The capital improvement plan and annual amendments to 
 it are not effective until approved by the county board after 
 public hearing.  

    Subd. 4.    Limitations on amount.  A county, other than 
 Ramsey, may not issue bonds under this section if the maximum 
 amount of principal and interest to become due in any year on 
 all the outstanding bonds issued pursuant to this section 
 (including the bonds to be issued) will equal or exceed 0.05367 
 percent of taxable market value of property in the county.  
 Ramsey county may not issue bonds under this section if the 
 maximum amount of principal and interest to become due in any 
 year on all the outstanding bonds issued pursuant to this 
 section (including the bonds to be issued) will equal or exceed 
 0.06455 percent of taxable market value of property in the 
 county.  Calculation of the limit must be made using the taxable 
 market value for the taxes payable year in which the obligations 
 are issued and sold.  This section does not limit the authority 
 to issue bonds under any other special or general law. 

    Subd. 5.    Application of chapter 475.  Bonds to 
 finance capital improvements qualifying under this section must 
 be issued under the issuance authority in chapter 475 and the 
 provisions of chapter 475 apply, except as otherwise 
 specifically provided in this section. 

    Subd. 6. Repealed, 1994 c 505 art 2 s 7 

    Subd. 7. Repealed, 2001 c 214 s 49 

    HIST: 1988 c 519 s 2; 1988 c 719 art 5 s 84; art 19 s 20; 1989 
 c 277 art 4 s 30,31; 1989 c 329 art 13 s 20; 1Sp1989 c 1 art 5 s 
 27; art 17 s 6,7; 1990 c 480 art 9 s 13; 1990 c 592 s 1,2; 1991 
 c 345 art 2 s 55; 1992 c 511 art 9 s 11; 1995 c 256 s 1; 1997 c 
 231 art 2 s 31; 1999 c 243 art 5 s 34; 1Sp2003 c 4 s 1; 2005 c 
 152 art 1 s 7; 1Sp2005 c 1 art 4 s 101,102