Section 383E.21 Bonding for Public Safety Communication Systems

MINNESOTA STATUTES AND CODES

Section 383E.21 Bonding for Public Safety Communication Systems

383E.21 BONDING FOR PUBLIC SAFETY COMMUNICATION SYSTEMS.

Subdivision 1.Authority to incur debt.

(a) To finance the cost of designing, constructing, and acquiring public safety communication system infrastructure and equipment, the governing body of Anoka County may issue:

(1) capital improvement bonds under the provisions of section 373.40 as if the infrastructure and equipment qualified as a "capital improvement" within the meaning of section 373.40, subdivision 1, paragraph (b); and

(2) capital notes under the provisions of section 373.01, subdivision 3, as if the equipment qualified as "capital equipment" within the meaning of section 373.01, subdivision 3.

(b) The original principal amount of the bonds and the capital notes issued under this section may not exceed $12,500,000.

Subd. 2.Treatment of levy.

Notwithstanding sections 275.065, subdivision 3, and 276.04, the county may report the tax attributable to any levy to pay principal and interest on bonds or notes issued under this section as a separate line item on the proposed property tax notice and the property tax statement.

Subd. 3.Expiration.

This section expires ten years after the first year in which the county issues a note or bond under this section. The county may not issue a bond or note under this section with a maturity or payment date after the expiration date of this section. No property tax may be levied under this section for taxes payable in a calendar year after the calendar year in which this section expires. Expiration of this section does not affect the obligation to pay or the authority to collect taxes levied under this section before its expiration.