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S.F. No. 2405 - City of Woodbury; Issuance of Bonds
 
Author: Senator Theodore Lillie
 
Prepared By: Eric S. Silvia, Senate Counsel (651/296-1771)
 
Date: March 26, 2012



 

Notwithstanding the referendum requirement, this bill allows the city of Woodbuy to issue and sell bonds to pay for the costs of renovating, expanding, improving, and equipping the Bielenberg Sports Center.  To qualify, the bonds must be secured by a pledge of revenues from the facility and the city must find that the bonds can be paid for through a tax levy that is not larger than the levy used to pay the original bonds to finance the center.

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