Section 360.037 General Power to Tax; Revenue Priorities

MINNESOTA STATUTES AND CODES

Section 360.037 General Power to Tax; Revenue Priorities

360.037 GENERAL POWER TO TAX; REVENUE PRIORITIES.

Subdivision 1.Local authority to appropriate money.

The governing bodies having power to appropriate money within the municipalities in this state acquiring, establishing, constructing, enlarging, improving, maintaining, equipping, or operating airports and other air navigation facilities under the provisions of sections 360.011 to 360.076, are hereby authorized to appropriate and cause to be raised, by taxation or otherwise in such municipalities, money sufficient to carry out therein the provisions of sections 360.011 to 360.076. Expenditures by counties shall be made out of the general revenue fund only.

Subd. 2.Levy in excess of tax limitation.

A municipality may levy taxes for the purposes authorized by sections 360.011 to 360.076, in such amount as may be authorized by an ordinance or resolution referred to and approved by the voters of such municipality by popular vote or as may be required to pay principal of or interest on general obligation bonds of the municipality issued under section 360.036.

Subd. 3.Use of revenues.

The revenues obtained from the ownership, control, and operation of any such airport or other air navigation facility shall be used, first, to finance the maintenance and operating expenses thereof and, second, to make payments of interest on and current principal requirements of any outstanding bonds or certificates issued for the acquisition or improvement thereof, and to make payment of interest on any mortgage heretofore made. Revenues in excess of the foregoing requirements shall be applied to finance the extension or improvement of the airport or other air navigation facilities.