Subdivision 1. Tax anticipation. At any time after a tax has been levied by the commission and certified to the county auditors to be spread on the next tax roll for collection, the commission may borrow money and in evidence thereof issue and sell its certificates of indebtedness in anticipation of the collection of such levy.
Subd. 2. Up to 50 percent. The aggregate principal amount of such certificates then remaining outstanding, issued in anticipation of any levies whatsoever, plus the then unpaid accrued interest and interest to accrue to maturity on all such certificates, shall not exceed 50 percent of all taxes certified to the county auditors to be spread and collected which are not delinquent, less the amount thereof received by the commission before the latest certificates were issued.
Subd. 3. Up to 1-1/2 year maturity. All certificates shall mature not later than April 1 following the close of the year of collection of the taxes in anticipation of which they were issued, and may be made subject to redemption before maturity.
Subd. 4. Formalities in resolution. The commission shall, by the resolution authorizing each issue of certificates, fix the amount, date, maturity or maturities, prepayment provisions, form, denominations, interest rate or rates, and other details of the certificates, and also pledge the full faith and credit of the commission for the payment thereof. In and by such resolution, the commission shall also irrevocably appropriate to a special fund such amount, stated in dollars, of the levy anticipated as will be required to pay the principal of and interest on the certificates when due.
Subd. 5. Levy for delinquencies. If, due to delinquencies in collection thereof, the levy is not received at the times and in the amounts sufficient to meet principal of and interest on certificates payable therefrom, the commission may levy and cause to be extended, assessed and collected upon all taxable property within the region, such ad valorem taxes as may be required to pay such principal and interest and to restore to other funds advances made for that purpose.
Subd. 6. Negotiation; sale. All such certificates may be negotiated and sold in such manner as may be determined by the commission.
1973 c 589 s 3
Structure Minnesota Statutes
Chapters 460 - 463 — Local Government Police Powers
Chapter 462 — Planning, Zoning
Section 462.12 — Restricted Residence Districts.
Section 462.13 — Council Given Power Of Eminent Domain.
Section 462.14 — Appraisal Of Damage.
Section 462.15 — Map, Plat, Parcel List Made, Filed; Tax, Assessments.
Section 462.16 — Power To Enact Ordinances To Enforce Council Rights.
Section 462.17 — Buildings Declared A Nuisance.
Section 462.351 — Municipal Planning And Development; Policy Statement.
Section 462.352 — Definitions.
Section 462.353 — Authority To Plan; Funds; Fees; Appeal.
Section 462.3531 — Waiver Of Rights.
Section 462.3535 — Community-based Planning.
Section 462.354 — Organization For Planning.
Section 462.355 — Adopt, Amend Comprehensive Plan; Interim Ordinance.
Section 462.356 — Procedure To Effect Plan: Generally.
Section 462.357 — Official Controls: Zoning Ordinance.
Section 462.358 — Official Controls: Subdivision Regulation; Dedication.
Section 462.3585 — Joint Planning Board.
Section 462.359 — Procedure To Effect Plan: Official Maps.
Section 462.3593 — Temporary Family Health Care Dwellings.
Section 462.3595 — Conditional Use Permits.
Section 462.3597 — Interim Uses.
Section 462.36 — Certified Copies Filed With County Recorder.
Section 462.361 — Judicial Review.
Section 462.3612 — Housing Fiscal Impact Notes.
Section 462.362 — Enforcement And Penalty.
Section 462.363 — Present Ordinances Continued.
Section 462.364 — Inconsistent Laws.
Section 462.365 — Extension Of Time For Compliance.
Section 462.371 — Regional Planning Activities.
Section 462.372 — Regional Planning Boards.
Section 462.373 — Regional Planning Board; Powers And Duties.
Section 462.374 — Adoption Of Plan By Local Units.
Section 462.375 — Regional Development Plan; Filing And Distribution.
Section 462.382 — Application.
Section 462.383 — Purpose: Government Cooperation And Coordination.
Section 462.384 — Definitions.
Section 462.385 — Designation Of Regions.
Section 462.386 — Other Planning Regions To Conform; Exception.
Section 462.387 — Regional Development Commissions; Establishment.
Section 462.388 — Commission Membership.
Section 462.389 — Development Commission Chair; Officers And Staff.
Section 462.39 — Powers And Duties.
Section 462.391 — Specific Powers And Duties.
Section 462.3911 — Prairieland Expo.
Section 462.3912 — Regional Housing Development.
Section 462.393 — Annual Report To Units, Public, Governor, Legislature.
Section 462.394 — Citizen Participation And Advisory Committees.
Section 462.395 — Duties Of State Agencies.
Section 462.396 — Grants; Levies; Budget; Accounts; Audits; Bids; Deposits.
Section 462.397 — Borrowing Money; Certificates Of Indebtedness.