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Chapter 471
Section 471.562
Topics
Recent History
- 1994 Subd. 3 Amended 1994 c 614 s 14
- 1994 Subd. 5 New 1994 c 614 s 15
This is an historical version of this statute chapter. Also view the most recent published version.
471.562 DEFINITIONS.
Subdivision 1. Applicability. In sections 471.562 to 471.564, the terms defined in this
section have the meanings given in this section.
Subd. 2. Economic development loan repayment. "Economic development loan
repayment" means any payment received or to be received by a municipality with respect to a
loan made by the municipality for economic development purposes from the proceeds of a federal
or state grant, from the proceeds of bonds issued pursuant to section 471.564 or from municipal
resources appropriated for that purpose.
Subd. 3. Municipality. "Municipality" means a statutory city, a home rule charter city, a
housing and redevelopment authority created pursuant to, or exercising the powers of such an
authority contained in, chapter 469, a port authority created pursuant to, or exercising the powers
of such an authority contained in, chapter 469, or an economic development authority created
pursuant to or exercising the powers of such an authority contained in chapter 469.
Subd. 4. Project. "Project" means an industrial development district as defined in section
469.058, subdivision 1; a project as defined in section 469.002, subdivision 12; a development
district as defined in sections 469.124 to 469.134 or any special law; or a project as defined
in section 469.153, subdivision 2.
Subd. 5. Secondary market. A municipality may sell, at private or public sale, at the price
or prices determined by the municipality, a note, mortgage, lease, sublease, lease purchase, or
other instrument or obligation evidencing or securing a loan described in subdivision 2.
History: 1987 c 344 s 10; 1989 c 209 art 2 s 44; 1994 c 614 s 14,15
Subdivision 1. Applicability. In sections 471.562 to 471.564, the terms defined in this
section have the meanings given in this section.
Subd. 2. Economic development loan repayment. "Economic development loan
repayment" means any payment received or to be received by a municipality with respect to a
loan made by the municipality for economic development purposes from the proceeds of a federal
or state grant, from the proceeds of bonds issued pursuant to section 471.564 or from municipal
resources appropriated for that purpose.
Subd. 3. Municipality. "Municipality" means a statutory city, a home rule charter city, a
housing and redevelopment authority created pursuant to, or exercising the powers of such an
authority contained in, chapter 469, a port authority created pursuant to, or exercising the powers
of such an authority contained in, chapter 469, or an economic development authority created
pursuant to or exercising the powers of such an authority contained in chapter 469.
Subd. 4. Project. "Project" means an industrial development district as defined in section
469.058, subdivision 1; a project as defined in section 469.002, subdivision 12; a development
district as defined in sections 469.124 to 469.134 or any special law; or a project as defined
in section 469.153, subdivision 2.
Subd. 5. Secondary market. A municipality may sell, at private or public sale, at the price
or prices determined by the municipality, a note, mortgage, lease, sublease, lease purchase, or
other instrument or obligation evidencing or securing a loan described in subdivision 2.
History: 1987 c 344 s 10; 1989 c 209 art 2 s 44; 1994 c 614 s 14,15
Official Publication of the State of Minnesota
Revisor of Statutes