Minnesota § 366.095 - AUTHORITY TO ISSUE CERTIFICATES OF INDEBTEDNESS
Full text of Minnesota Minnesota Statutes § 366.095 — AUTHORITY TO ISSUE CERTIFICATES OF INDEBTEDNESS, with citation guidance and answers to common questions.
§ 366.095. AUTHORITY TO ISSUE CERTIFICATES OF INDEBTEDNESS
Subdivision 1.Certificates of indebtedness.
The town board may issue certificates of indebtedness within the debt limits for a town purpose otherwise authorized by law, including projects that eliminate R-22, as defined in section 240A.09, paragraph (b), clause (2). The certificates shall be payable in not more than 20 years and be issued on the terms and in the manner determined by the board. If the amount of the certificates to be issued exceeds 0.25 percent of the estimated market value of the town, they shall not be issued for at least ten days after publication in a newspaper of general circulation in the town of the board's resolution determining to issue them. If within that time, a petition asking for an election on the proposition signed by voters equal to ten percent of the number of voters at the last regular town election is filed with the clerk, the certificates shall not be issued until their issuance has been approved by a majority of the votes cast on the question at a regular or special election. A tax levy shall be made to pay the principal and interest on the certificates as in the case of bonds.
Subd. 2.Bonds; other obligations.
A town authorized to exercise powers under section 368.01 may issue bonds or other obligations to acquire or better warning systems. Bonds or other obligations authorized by this subdivision must be sold, issued, and secured as provided in chapter 475.
History:
1984 c 562 s 27; 1985 c 169 s 10; 1986 c 314 s 1; 1987 c 384 art 1 s 35; 1988 c 719 art 5 s 84; 1989 c 1 s 3; 1989 c 197 art 7 s 1; 2009 c 88 art 6 s 6; 2013 c 143 art 14 s 45; 1Sp2017 c 1 art 7 s 1; 2023 c 64 art 12 s 3
Official Publication of the State of Minnesota
Revisor of Statutes
Source: official Minnesota text · Last verified 2026-08-27
Frequently Asked Questions About Minnesota § 366.095
What does Minnesota Statutes § 366.095 cover?
Section 366.095 ("AUTHORITY TO ISSUE CERTIFICATES OF INDEBTEDNESS") is part of the Minnesota Statutes, the codified statutory law of Minnesota. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Minnesota § 366.095?
A common citation format is "Minnesota Statutes § 366.095" (Minnesota). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Minnesota law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Minnesota official source linked on this page or consult a licensed Minnesota attorney.
How does Minnesota § 366.095 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Minnesota can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Minnesota.