Minnesota Legislature
Office of the Revisor of Statutes
2006 Minnesota Statutes
This is an historical version of this statute chapter. Also view the most recent published version.
465.86 BONDED DEBT AT THE TIME OF COMBINATION.
Debt service for bonds outstanding at the time of the combination may be levied by the
combined governing body consistent with the plan adopted according to section 465.82, and any
subsequent modifications, subject to section 475.61. The primary obligation to pay the bonded
indebtedness outstanding on the effective date of combination remains with the local government
unit that issued the bonds, but a combined unit may make debt service payments on behalf of a
preexisting unit.
History: 1991 c 291 art 14 s 7
Debt service for bonds outstanding at the time of the combination may be levied by the
combined governing body consistent with the plan adopted according to section 465.82, and any
subsequent modifications, subject to section 475.61. The primary obligation to pay the bonded
indebtedness outstanding on the effective date of combination remains with the local government
unit that issued the bonds, but a combined unit may make debt service payments on behalf of a
preexisting unit.
History: 1991 c 291 art 14 s 7
Official Publication of the State of Minnesota
Revisor of Statutes