(a) The council may issue certificates of indebtedness or capital notes subject to the city debt limits to purchase capital equipment.
(b) For purposes of this section, "capital equipment" means:
(1) public safety equipment, ambulance and other medical equipment, road construction and maintenance equipment, and other capital equipment; and
(2) computer hardware and software, whether bundled with machinery or equipment or unbundled, together with application development services and training related to the use of the computer hardware or software.
(c) The equipment or software must have an expected useful life at least as long as the terms of the certificates or notes.
(d) Such certificates or notes shall be payable in not more than ten years and shall be issued on such terms and in such manner as the council may determine, provided, however, that notes issued for projects that eliminate R-22, as defined in section 240A.09, paragraph (b), clause (2), must be payable in not more than 20 years.
(e) If the amount of the certificates or notes to be issued to finance any such purchase exceeds 0.25 percent of the estimated market value of taxable property in the city, they shall not be issued for at least ten days after publication in the official newspaper of a council resolution determining to issue them; and if before the end of that time, a petition asking for an election on the proposition signed by voters equal to ten percent of the number of voters at the last regular municipal election is filed with the clerk, such certificates or notes shall not be issued until the proposition of their issuance has been approved by a majority of the votes cast on the question at a regular or special election.
(f) A tax levy shall be made for the payment of the principal and interest on such certificates or notes, in accordance with section 475.61, as in the case of bonds.
1949 c 119 s 37; 1957 c 90 s 1; 1969 c 333 s 3; 1973 c 123 art 2 s 1 subd 2; 1986 c 465 art 2 s 8; 1988 c 719 art 5 s 84; 1989 c 1 s 5; 2003 c 127 art 12 s 17; 1Sp2003 c 21 art 10 s 11; 2005 c 152 art 1 s 9; 2008 c 154 art 10 s 16; 2013 c 143 art 12 s 9; art 14 s 66; 1Sp2017 c 1 art 7 s 4
Structure Minnesota Statutes
Chapters 410 - 414 — Cities, Organization
Chapter 412 — Statutory Cities
Section 412.013 — Additional Powers.
Section 412.014 — Power To Operate Telephone Lines.
Section 412.015 — Uniform Code Of Municipal Government.
Section 412.016 — Application; Statutory Cities.
Section 412.018 — Cities Under General Or Special Incorporation Acts.
Section 412.02 — City Elections; Officers, Terms, Vacancies, City Employees.
Section 412.022 — Council May Provide Four-year Term.
Section 412.023 — Transition Schedule.
Section 412.081 — Separation From Town.
Section 412.091 — Dissolution; Petition; Vote.
Section 412.093 — Dissolution Secured By Claimants.
Section 412.111 — Departments, Boards.
Section 412.121 — Acting Mayor.
Section 412.131 — Assessor; Duties, Compensation.
Section 412.141 — Treasurer's Duties.
Section 412.151 — Duties Of Clerk.
Section 412.152 — Mayor; Fire Chief; Offices Not Incompatible.
Section 412.153 — Housing Aid To Ensure Timely Public Safety Service.
Section 412.191 — Members; Powers, Duties.
Section 412.201 — Execution Of Instruments.
Section 412.211 — General Statutory City Powers.
Section 412.221 — Specific Powers Of Council.
Section 412.222 — Public Accountants In Statutory Cities.
Section 412.241 — Council To Control Finances.
Section 412.251 — Annual Tax Levy.
Section 412.261 — Tax Anticipation Certificates.
Section 412.271 — Disbursements.
Section 412.301 — Financing Purchase Of Certain Equipment.
Section 412.321 — Municipal Utilities.
Section 412.331 — Establishment Of Public Utilities Commission.
Section 412.341 — Commission; Membership, Organization.
Section 412.351 — Commission, Jurisdiction.
Section 412.361 — Public Utility; Commission Powers.
Section 412.371 — Separate City Fund For Each Utility.
Section 412.391 — Abolition Of Commission Or Utility Transfer.
Section 412.491 — Parks; Parkways; Recreational Facilities.
Section 412.501 — City Of 1,000 May Have Or Continue Park Board; Formalities.
Section 412.511 — Acquisition And Control Of Park Property.
Section 412.521 — Powers Of Board.
Section 412.541 — Optional Plans.
Section 412.551 — Election On Optional Plan.
Section 412.561 — Applicable Law; Same Rights, Liabilities, Proceedings.
Section 412.571 — Continuance In Office; Elections.
Section 412.572 — Conversion To Optional Plan A.
Section 412.591 — Duties Of Clerk And Treasurer; May Be Combined.
Section 412.601 — Applications Of Sections 412.601 To 412.751.
Section 412.611 — Council-manager Plan.
Section 412.621 — Boards And Commissions.
Section 412.631 — Composition Of Council.
Section 412.641 — Manager; Basis For Choice; Residency; Term; Probation.
Section 412.651 — City Manager; Powers And Duties.
Section 412.661 — Limit On Council Powers.
Section 412.671 — Creation Of Departments; Divisions And Bureaus.
Section 412.681 — Manager Runs City; Offices May Be Joined Or Abolished.
Section 412.691 — Manager Is Purchasing Agent; Audit And Approval.
Section 412.711 — Consideration Of Budget; Tax Levy.
Section 412.721 — Budget Enforcement; Personal Liability.
Section 412.731 — Modification Of Budget.
Section 412.741 — Disbursement Of Funds.
Section 412.751 — Emergency Debt Certificates.
Section 412.831 — Official Newspaper.
Section 412.851 — Vacation Of Streets.
Section 412.861 — Prosecutions, Violations Of Ordinances.
Section 412.871 — Fines And Penalties.
Section 412.881 — President And Recorder Defined.