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MN HF2811
Bill
Status
Introduced
3/12/2012
Primary Sponsor
Andrea Kieffer
Click for details
AI Summary
- Exempts the city of Woodbury from the referendum requirement in Minnesota Statutes section 475.58 for issuing public debt obligations
- Allows Woodbury to issue and sell obligations to pay for renovating, improving, expanding, and equipping the Bielenberg Sports Center, including issuance costs and capitalized interest
- Requires obligations to be secured by a pledge of revenues from the facility
- Requires the city to obtain analysis from a professional experienced in finance confirming that facility revenues plus the maximum annual property tax levy previously used for bonds will be sufficient to pay the obligations without additional property tax levy
- Becomes effective the day after the city's governing body and chief clerical officer comply with Minnesota Statutes section 645.021, subdivisions 2 and 3
Legislative Description
Woodbury; public debt issuance authorized.
Last Action
Division action, to pass and return to Taxes
3/14/2012
Committee Referrals
Property and Local Tax3/13/2012
Taxes3/12/2012
Full Bill Text
No bill text available