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Agenda - Council - 09/25/1984
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Agenda - Council - 09/25/1984
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Meetings
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Agenda
Meeting Type
Council
Document Date
09/25/1984
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15 - <br /> <br /> ~shall be deemed waived unless presented on such appeal. This <br /> section provides the exclusive method of appeal from a special <br /> assessment levied pursuant to this code. <br /> <br /> ~10.01.13 Plnanclng. <br /> <br /> Subdivision 1. Authority. At any time after one or more <br /> ~tmprovements are ordered as contemplated in Seetion 210.01.05 of <br /> ~this code, the Council may issue obligations in such amounts as <br /> it deems necessary to defray in whole or in part the expense <br />i ~ incurred and estimated to be incurred in making the improvement <br /> or improvements, including every item of cost of the kinds <br /> authorized in Minnesota Statutes 475.65. In the event of any <br /> omission, error, or mistake in any of the proceedings required by <br /> this Chapter or by the Home Rule Charter precedent to the <br /> ordering of any improvement, the validity of the obligations <br /> shall not be affected thereby. The Council shall cause all <br /> further actions and proceedings to be taken with due diligence <br /> that are required for the construction of each improvement <br /> financed wholly or partly from the proceeds of obligations and <br /> issued hereunder, and for the final and valid levy of special <br /> assessments and the appropriation of any other funds needed to <br /> pay the obligations and interest thereon when due. <br /> <br /> Subdivision 2. Types of Obli~ations Permitted. The Council <br /> may by resolution adopted prior to the sale of obligations <br /> pledge the full faith, credit and taxing power of the city for <br /> the payment of the principal and interest. Such obligations <br /> shall be called improvement bonds and the Council shall pay the <br /> principal and interest out of any fund of the city when the <br /> amount credited to the specified fund is insufficient for the <br /> purpose and shall each year levy a sufficient amount to take <br /> care of accumulated or anticipated deficiencies, which 1 evy <br /> shall not be subject to any statutory or charter tax limitation. <br /> Obligations for the payment of which the full faith and credit <br /> of the city is not pledged shall be called improvement warrants <br /> and shall contain a promise to pay solely out of the proper <br /> special fund. It shall be the duty of the City Treasurer to pay <br /> maturing principal and interest on warrants out of funds on hand <br /> in the proper special fund and not otherwise. <br /> <br /> Subdivision 3. Method of Issuance. All obligations shall be <br /> issued in accordance with the provisions of the Charter and <br /> Minnesota Statute 475, except that an election shall be required <br /> for bonds if less than 20 percent of the cost of the improvement <br /> to the city is to be assessed against benefited property. The <br /> maturities shall be such as in the opinion of the Council are <br /> warranted by the anticipated collections of assessments and ad <br /> valorem levies for the City's share of the cost; except that the <br /> Council may in its discretion issue and sell temporary <br /> improvement bonds maturing and subject to further conditions as <br /> set forth in subdivision 5. All obligations shall state upon <br /> <br /> <br />
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