MN HF2085

Counties may enter into joint purchase agreements with other counties for energy or interests in energy generation projects under Minnesota Statutes section 471.59.

Counties may annually levy an ad valorem tax for energy purchases or project acquisitions in an amount not exceeding 0.015 percent of the market value of taxable property in the county.

Counties entering multiyear energy agreements, including C-BED projects, may finance costs through general obligation bonds, provided annual debt service plus energy purchase payments do not exceed authorized tax amounts.

Joint purchase agreements may be structured three ways: individual counties issue bonds for their shares; one county issues bonds with others pledging tax collections; or a joint powers board issues revenue bonds with participating counties pledging tax collections.

Bonds issued under this section may be issued without an election and do not constitute net debt of any participating county.