Minnesota § 465.04 ACCEPTANCE OF GIFTS

Minnesota Statutes

§ 465.04 — ACCEPTANCE OF GIFTS

Minnesota § 465.04

PartPOLITICAL SUBDIVISIONS, GENERAL PROVISIONS

Ch. 465RIGHTS, POWERS AND DUTIES; MUNICIPALITIES

This text of Minnesota § 465.04 (ACCEPTANCE OF GIFTS) 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. § 465.04 (2026).

Text

A city of the second, third, or fourth class, either operating under a home rule charter or under the laws of this state, may receive and accept gifts and donations for the use and benefit of the city and its inhabitants upon terms and conditions to be approved by the governing body of the city. The terms and conditions may include payment to the donor or donors of interest on the value of the gift at not exceeding five percent per annum payable annually or semiannually, during the remainder of the natural life or lives of the donor or donors.

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A city of the second, third, or fourth class, either operating under a home rule charter or under the laws of this state, may receive and accept gifts and donations for the use and benefit of the city and its inhabitants upon terms and conditions to be approved by the governing body of the city. The terms and conditions may include payment to the donor or donors of interest on the value of the gift at not exceeding five percent per annum payable annually or semiannually, during the remainder of the natural life or lives of the donor or donors.