Minnesota § 465.86 BONDED DEBT AT THE TIME OF COMBINATION

Minnesota Statutes

§ 465.86 — BONDED DEBT AT THE TIME OF COMBINATION

Minnesota § 465.86

PartPOLITICAL SUBDIVISIONS, GENERAL PROVISIONS

Ch. 465RIGHTS, POWERS AND DUTIES; MUNICIPALITIES

This text of Minnesota § 465.86 (BONDED DEBT AT THE TIME OF COMBINATION) 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. § 465.86 (2026).

Text

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 section465.82, and any subsequent modifications, subject to section475.61. 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.

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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 section465.82, and any subsequent modifications, subject to section475.61. 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.