1984 City Charter - Laserfiche WebLink

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at maturity, the holders may require the issuance in exchange for them, at par, of new temporary improvement bonds maturing within one year from their date of issue (but not subject to any other maturity limitation), and bearing interest at the maximum rate permitted by law. Subdivision 6. Investment of Other City Funds. Funds of the City may be invested in its temporary improvement bonds in accordance with the provisions of Minnesota Statutes Section 471.56, and may be purchased upon their initial issue, but shall be purchased only from funds which the Council determines will not be required for other purposes before the maturity date, and shall be resold before maturity only in case of emergency. If purchased from a debt service fund securing other bonds, the holders of those bonds may enforce the City's obligations on the temporary improvement bonds in the same manner as if they held the temporary improvement bonds. Subdivision 7. General 0bli~ation Temporary Improvement Bonds. The Council may by resolution adopted prior to the sale of any temporary improvement bonds pledge the full faith, credit, and taxing power of the City for the payment of the principal and interest, in addition to all provisions made for their security in subdivision 5. In this event the bonds shall be designated as general obligation temporary improvement bonds, and the Council shall levy taxes for their payment in accordance with Minnesota Statute Section 475.61. Proceeds of improvement bonds or tempoary improvement bonds not yet sold may be treated as pledged revenues, in reduction of the tax otherwise required by Minnesota Statute Section 475.61 to be levied prior to delivery of the obligations. SERVICE CHARGES, A SPECIAL ASSESSMENT AGAINST BENEFITED PROPERTY Subdivision 1. _Q~. As authorized under Section 8.06 of the Charter, the Council may provide by ordinance that the cost of City services to streets, sidewalks or other public or private property may be assessed against property benefited and may be collected in the same manner as special assessments. Such costs shall not be deemed to be "special assessments" for the purposes set forth in Section 8.03 of the Charter. Such City services shall include, but not be limited to, the cost of snow, ice or rubbish removal from sidewalks, weed elimination from streets or private property, removal or elimination of public health or safety hazards from private property, installation or repair of water service lines, street sprinkling or other dust treatment of streets, the trimming and case of trees and the removal of unsound trees from any street, the treatment and removal of insect infested or diseased trees on private property, the repair of sidewalks and alleys, the operation of a street lighting system, or the cost of fire service calls. Subdivision 2. Procedure for Assessment. Any special assessment levied under Subdivision 1 shall be payable in a