Neither filing nor possession is required to perfect the security interest created by any pledge or appropriation of revenues or funds of the municipality, including any of its investments, to the payment of bonds issued by the municipality. Notwithstanding any contrary provision of law, article 9 of the Uniform Commercial Code does not apply to security interests created by a municipality or the state, except security interests in equipment and fixtures.
1987 c 344 s 35; 2000 c 493 s 17
Structure Minnesota Statutes
Chapters 474 - 477C — Public Debt; Local Government Aid
Section 475.52 — Bond Issues; Purposes.
Section 475.521 — Capital Improvement Bonds.
Section 475.522 — Grant Anticipation Financing Of Transportation Or Transit Projects.
Section 475.525 — Municipal District Heating Bonds.
Section 475.53 — Limit On Net Debt.
Section 475.54 — Maturities; Redemption.
Section 475.55 — Execution; Negotiability; Interest Rates.
Section 475.551 — Excessive Interest, Validation.
Section 475.553 — Paying Agent; Destruction Of Obligations And Coupons.
Section 475.56 — Interest Rate.
Section 475.561 — Taxable Status; Special Provisions.
Section 475.57 — Initiation Of Proceedings; Resolution.
Section 475.58 — Obligations; Elections To Determine Issue.
Section 475.59 — Manner Of Submission; Notice.
Section 475.60 — Sale Of Bonds.
Section 475.63 — Certificate As To Registration.
Section 475.64 — Levy By Auditor.
Section 475.65 — Delivery Of Bonds; Use Of Proceeds.
Section 475.67 — Refunding Bonds, Other Obligations; Validity; Procedure.
Section 475.68 — Joint Liability Of Town And Statutory City.
Section 475.69 — Defaced Bonds; Duplicates.
Section 475.70 — Lost Instruments; Indemnity.
Section 475.72 — Violations And Penalties.
Section 475.73 — State Board Of Investment.
Section 475.74 — Law Limiting Taxes Not Applicable.
Section 475.753 — Municipalities Are Subject To This Chapter.
Section 475.754 — Disaster, Public Emergency; Certificates Of Indebtedness.
Section 475.755 — Emergency Debt Certificates.
Section 475.77 — When Bond Allocation Act Applies.
Section 475.78 — Perfection Of Pledge; Security Interests.
Section 475.79 — Powers Available To Other Political Subdivisions.
Section 475.80 — Attached, Annexed, Combined, Consolidated, Incorporated.