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Ordinance - #84-08 - 09/25/1984
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Ordinance - #84-08 - 09/25/1984
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Resolutions & Ordinances
Resolutions or Ordinances
Ordinances
Resolution or Ordinance Number
#84-08
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 />210.01.13 F-Inane'lng. <br /> <br /> Subdivision 1. Authority. At any time after one or more <br />improvements are ordered as authorized in Section 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 />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 Obligations 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 levy <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. Ail 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. Ail obligations shall state upon <br /> <br /> <br />
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