Subdivision 1. Amount; purposes. The Metropolitan Council may by resolution authorize the issuance of general obligation bonds of the council, in an amount outstanding and undischarged at any time not more than $3,000,000, for which its full faith and credit and taxing powers shall be pledged for the council's share of the first phase. The Metropolitan Council may also issue general obligation bonds to refund outstanding obligations issued under this section. The amount of refunding bonds that may be issued from time to time shall not be subject to the dollar limitation contained in this subdivision nor the refunding bonds be included in computing the amount of bonds that may be issued within that dollar limitation.
Subd. 2. Sale, terms, security. The Metropolitan Council shall sell and issue the bonds in the manner provided in chapter 475 and shall have the same powers and duties as a municipality issuing bonds under that chapter, except that the approval of a majority of the electors shall not be required and the net debt limitations shall not apply. The bonds shall be secured in accordance with section 475.61, subdivision 1, and any taxes required for their payment shall be levied by the council, shall not affect the amount or rate of taxes which may be levied by the council for other purposes, and shall be levied without limitation of rate or amount upon all taxable property in the transit taxing district and transit area as provided in section 473.446, subdivision 1.
Subd. 3. Temporary loans. The Metropolitan Council may, after the authorization of bonds under this section, provide funds immediately required for the purposes of subdivision 1 by effecting temporary loans upon terms as it shall by resolution determine, evidenced by notes due in not exceeding 24 months from their date, payable to the order of the lender or to the bearer, to be repaid with interest from the proceeds of the bonds when issued and delivered to the purchaser. The temporary loans may be made without public advertisement.
1995 c 195 art 1 s 13; 1Sp2003 c 1 art 2 s 135; 2022 c 55 art 1 s 178
Structure Minnesota Statutes
Chapters 370 - 403 — Counties, County Officers, Regional Authorities
Chapter 403 — 911 Emergency And Public Safety Communications
Section 403.025 — 911 Emergency Telecommunications System Required.
Section 403.03 — 911 Services To Be Provided.
Section 403.05 — 911 System Operation And Maintenance.
Section 403.06 — Commissioner's Duties.
Section 403.07 — Standards Established; Data Privacy.
Section 403.08 — Wireless Telecommunications Service Provider.
Section 403.10 — Cooperative Agreement.
Section 403.11 — 911 System Cost Accounting Requirements; Fee.
Section 403.113 — Enhanced 911 Service Costs; Fee.
Section 403.15 — Multiline Telephone System 911 Requirements.
Section 403.161 — Prepaid Wireless Fees Imposed; Collection; Remittance.
Section 403.162 — Administration Of Prepaid Wireless E911 Fees.
Section 403.163 — Liability Protection For Sellers And Providers.
Section 403.164 — Exclusivity Of Prepaid Wireless E911 Fee.
Section 403.27 — Revenue Bonds; Obligations.
Section 403.275 — State 911 Revenue Bonds.
Section 403.29 — Use Of Bond Proceeds.
Section 403.30 — Appropriation; Transfers.
Section 403.31 — Operating Costs.
Section 403.32 — Sale Of General Obligation Bonds.
Section 403.34 — Optional Local Use Of Statewide System.
Section 403.36 — Statewide Radio Board.
Section 403.37 — Powers Of Statewide Radio Board.
Section 403.38 — Statewide Armer Integration.
Section 403.382 — Statewide Emergency Communication Board.
Section 403.39 — Regional Radio Boards.
Section 403.392 — Regional Emergency Communication Boards.
Section 403.40 — Advisory Committees.
Section 403.51 — Automatic External Defibrillation; Registration.