Minnesota § 473.662 EARNINGS, HOW APPLIED

Minnesota Statutes

§ 473.662 — EARNINGS, HOW APPLIED

Minnesota § 473.662

PartMETROPOLITAN AREA

Ch. 473METROPOLITAN GOVERNMENT

This text of Minnesota § 473.662 (EARNINGS, HOW APPLIED) 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. § 473.662 (2026).

Text

The earnings of the corporation shall be applied as follows:

(a)to the payment of interest on its bonds and of any principal of such bonds which is due and payable;

(b)to the establishment of a sufficient fund to pay interest and principal on its bonds which will be payable in the following fiscal year; and (c) to the other purposes set out in section473.608, subdivision 13. If the amount included in the budget for any year, including the sum necessary to make payment of interest on and principal of bonds in the ensuing fiscal year is not sufficient to meet the needs of the corporation for that year, any deficit shall be included in the budget of the corporation for the following year.

Free access — add to your briefcase to read the full text and ask questions with AI

The earnings of the corporation shall be applied as follows: (a) to the payment of interest on its bonds and of any principal of such bonds which is due and payable; (b) to the establishment of a sufficient fund to pay interest and principal on its bonds which will be payable in the following fiscal year; and (c) to the other purposes set out in section473.608, subdivision 13. If the amount included in the budget for any year, including the sum necessary to make payment of interest on and principal of bonds in the ensuing fiscal year is not sufficient to meet the needs of the corporation for that year, any deficit shall be included in the budget of the corporation for the following year.