Minnesota § 458.34 LEVY FOR BONDS; DEBT LIMIT WAIVED; TAX LEVY

Minnesota Statutes

§ 458.34 — LEVY FOR BONDS; DEBT LIMIT WAIVED; TAX LEVY

Minnesota § 458.34

PartLOCAL PUBLIC UTILITIES, ENTERPRISES

Ch. 458WATER TRANSPORTATION FACILITIES

This text of Minnesota § 458.34 (LEVY FOR BONDS; DEBT LIMIT WAIVED; TAX LEVY) is published on Counsel Stack Legal Research, covering Minnesota primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Minn. Stat. § 458.34 (2026).

Text

Subdivision 1.Beyond debt limit.
The bonds authorized by sections458.32to458.35may be issued and sold by the city even if the sale results in the bonded debt of the city exceeding a limit in its charter or in state law.

Subd. 2.Pledge, levy.
The full faith and credit of the city must at all times be pledged to pay the bonds issued under sections458.32to458.35, and to pay the current interest on the bonds. The city council shall each year include in its tax levy a sufficient amount to pay the interest as it accrues and to accumulate a sinking fund to redeem the bonds at their maturity.

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Subdivision 1.Beyond debt limit.
The bonds authorized by sections458.32to458.35may be issued and sold by the city even if the sale results in the bonded debt of the city exceeding a limit in its charter or in state law.

Subd. 2.Pledge, levy.
The full faith and credit of the city must at all times be pledged to pay the bonds issued under sections458.32to458.35, and to pay the current interest on the bonds. The city council shall each year include in its tax levy a sufficient amount to pay the interest as it accrues and to accumulate a sinking fund to redeem the bonds at their maturity.