Minnesota Statutes 412.241 – Council to Control Finances
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The council shall have full authority over the financial affairs of the city, and shall provide for the collection of all revenues and other assets, the auditing and settlement of accounts, and the safekeeping and disbursement of public money.
Terms Used In Minnesota Statutes 412.241
- Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
- Settlement: Parties to a lawsuit resolve their difference without having a trial. Settlements often involve the payment of compensation by one party in satisfaction of the other party's claims.