Minnesota Statutes 451.05 – Bonds, Obligations for Heat Not Part of City Debt
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Subdivision 1.Obligations.
An obligation incurred by a home rule charter city of the fourth class in making arrangements to furnish heat to the city’s residents under section 451.04 is not part of the city’s debt under its charter or under state law limiting the city’s debt.
Subd. 2.Bonds.
Terms Used In Minnesota Statutes 451.05
- Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
- state: extends to and includes the District of Columbia and the several territories. See Minnesota Statutes 645.44
Terms Used In Minnesota Statutes 451.05
- Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
- state: extends to and includes the District of Columbia and the several territories. See Minnesota Statutes 645.44
The amount of bonds issued under section 451.04 and at any time outstanding are not part of the city’s net debt under its charter or under other law.