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<br />-.1, <br /> <br /> <br />".. ..",~-." <br /> <br />I' <br /> <br />., <br />..--...._-------~_.- - <br /> <br /> <br />.ji.',~.". "'1 J I'll/'lllll .\"" (;1l\'.I1.....'1r.....T <br /> <br />(\, I~ <br /> <br />I <br /> <br />I <br /> <br />Subd. 4. COlllll~' payment. Each count)' recei:...ing a certification for pay- <br />ment from a watershed management orpnization pursuant to thi5> section 5>hall <br />proviJc fund~ to'meet its proportionate share of the cost of the improvement as <br />shown in the certification by the organization. <br />Suhd. 5. BOIIU~, In order t(.l make the paymt:nt required by subdivision 4. <br />!he county board of each count)' may issue general oblig~tion bonds of the .count)' <br />In the amount necessary to pay a)) or part of the cost of Improvements certified to <br />the county board or to refund general obligation bonds issued for this purpose, <br />'The bonds shall be sold, issued, and secured in accordance with the provisions of <br />chapter 475 for general obligation bonds, except as otherwise provided in this <br />subdivision. No election shall be required. <br />Subd. 6, Tax. For the payment of principal and interest on the bonds <br />issued under subdivision 5 and the payment required under subdivision 4, the <br />county sh~lI irrevocably pledge and appropriate the proceeds of an ad valorem taJt <br />levied on a)) taxable property located within the territory of the watershed <br />management organization for which, the bonds are issued. Each year until the <br />reserve for payment of the bonds is sufficient to retire the bonds, the county shall <br />levy on'all taxable property in the territory of the organization, v:ithout respect to <br />any statutory or other limitation on taxes, an amount of taxes sufficie,nt to pay <br />principal and interest on the bonds and to restore any deficiencies in reserves <br />required to be maintained for payment of the bonds. ,If at any time the amounts <br />available from the levy on property in the territory of the organization are <br />insufficient to pay principal and interest on the bonds when due. the county shall <br />make payment from any available funds in the county treasury. The amount of <br />any taxes which are required to be levied outside of the territory of the watershed <br />management organization or taken from the general funds of the county to pay <br />principal or interest on the bonds shall be reimbursed to the county from. taxes <br />levied within the territory of the watershed management organization. <br />Subd. 7. Maintenance levy. For the purpose of creating a maintenance <br />fund to be used for normal and routine maintenance of a work of improvement <br />constructed in whole or part with money provided by the county pursuant. to <br />subdivision 4. the board of managers of a watershed district, with the approval of <br />the county. may impose an ad valorem levy on all property located within the <br />territory of the watershed districL The levy shall be certified. Ic\'ied, collected, <br />.and distributed as provided in section 112.611. and shall be in addition to any <br />other moneys levied and distributed to the district thereunder. The proceeds of <br />the levy shall be deposited in a separate maintenance and repair account to be <br />used only for the purpose for which the levy was made. <br /> <br />History: J 982 c 509 s 25 <br /> <br />1 <br /> <br />1 <br /> <br />I <br />1 <br /> <br />I <br />I' <br /> <br />I <br /> <br />I <br /> <br />I <br />I <br /> <br />I <br /> <br />I <br /> <br />I <br /> <br />I <br /> <br />I <br />