Legislative Session number- 85

Bill Name: SF1933

1E Relating to public finance; providing terms and conditions relating to the
issuance of obligations and the financing of public improvements and services;
modifying certain collateral amount requirements for the deposit of local public
funds; extending the time for repayment of certain school district certificates
or notes for equipment purchases; extending the time for certain publications of
a public notice; modifying the definition of subordinate service district and
defining special services for towns; modifying certain requirements for the
establishment of a subordinate service districts by town boards and specifying
certain duties of town boards, authorizing the issuance of bonds and certain
covenants to secure obligations for subordinate service districts; modifying
county subordinate service districts provisions, authorizing the issuance of
bonds and certain covenants to secure obligations for subordinate service
districts; extending the time for repayment of Hennepin county equipment
acquisition capital notes, modifying the definition of equipment; eliminating
the expiration date for a home rule charter city and city councils to issue
capital notes for software; modifying the definition of city for municipal gas
distribution purposes; authorizing political subdivisions with an actuarial
liability to pay postemployment benefits to create a trust to pay benefits;
providing for a trust administrator; specifying account maintenance and
investment provisions; providing for a limit on deposit, withdrawal of funds and
termination of account and the status of the irrevocable fund; providing for the
validation of trusts; authorizing the metropolitan council to issue certificates
of indebtedness, bonds or other obligations for capital expenditures as
prescribed in the council regional transit master plan and the transit capital
improvement program, amount limit; authorizing municipalities to issue bonds for
postemployment benefits to retired officers and employees; modifying certain
conditions for street reconstruction financing obligations; authorizing the town
of Crane Lake in St. Louis county to issue certificates of indebtedness for
property acquisition related to land exchange with the United States forest
service, requiring a tax levy to pay the principal and interest; authorizing the
city of Winsted to issue bonds to finance the acquisition and betterment of a
facility consisting of a city hall, community center and police station; for
park improvements including trails and an amphitheater, related public
improvements and landscaping for the improvements
(rt)