Minnesota § 412.751 - EMERGENCY DEBT CERTIFICATES
Full text of Minnesota Minnesota Statutes § 412.751 — EMERGENCY DEBT CERTIFICATES, with citation guidance and answers to common questions.
§ 412.751. EMERGENCY DEBT CERTIFICATES
If in any year the receipts from taxes or other sources should from some unforeseen cause become insufficient for the ordinary expenses of the city or if any calamity or any other public emergency should subject the city to the necessity of making extraordinary expenditures, the council may authorize the sale by the city treasurer of emergency debt certificates to run not to exceed two years and to bear interest at not more than seven percent per year. A tax sufficient to redeem all such certificates at maturity shall be levied as part of the budget for the following year. The authorization of an issue of such emergency debt certificates shall be given by an ordinance approved by all the members of the council.
History:
1949 c 119 s 91; 1974 c 337 s 14
Official Publication of the State of Minnesota
Revisor of Statutes
Frequently Asked Questions About Minnesota § 412.751
What does Minnesota Statutes § 412.751 cover?
Section 412.751 ("EMERGENCY DEBT CERTIFICATES") 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 § 412.751?
A common citation format is "Minnesota Statutes § 412.751" (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 § 412.751 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.