08/13/2012 Council Packet (2) - Laserfiche WebLink

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P52 objection was filed by the required number of owners) or under subdivision 4. If a petition requesting a vote on the local improvement signed by registered voters equal to at least 12 percent of the votes cast in the last general municipal election is filed with the City Clerk by the end of that 30 -day period, then the City may proceed with the local improvement, and may issue general obligation bonds to finance the local improvement, only after obtaining approval of a majority of the voters voting on the question at a general or special election. The ballot shall generally describe the proposed local improvement, the estimatedprincipal amount of bonds to be issued to finance the local improvement, and the estimated percentage of total debt service on the bonds expected to be paid from ad valorem taxes. Subdivision 6. If the voters do not approve a local improvement and issuance of bonds therefore at an election required by subdivision 5, the provisions of Minnesota Statutes. section 475.58, subd. la shall apply. Section 4. That Chapter 8, Section 8.07, of the Lino Lakes City Charter is hereby repealed: Section 8.07. Local Improvement; Special Provisions. Subdivision 1. Except as provided in Subdivision 3, i In the geographic areas of the City described in Subdivision 2, the construction of local improvements, the levy of special assessment for the financing of those improvements must be conducted in accordance with procedures specified in state law. exceeding 130 acres, legally described as follows: AREA NO. 1 Trunk Highway /119 (Hodgson Road) and County State Aid_ Highway f1'23 Intersection (Lake Drive) All Government Lot 1, Section 30, T31, R22, PIN. 30 31 22 210001 That part of Lots 11, 15, 16 and 17, Auditor's Subdivision No. 151 lying south and east of • AREA NO. 2 Interstate I35E and County Road 212 (Main Street) Interchange Northeast one quarter (1/1) of Section 21 That part of the southeast one quarter (1/1) of Section 21 lying north of Cedar Street East one half (1/2) of the southwest one quarter (1/1) of Section 21 East one half (1/2) of the northwest one quarter (1/1) of Section 21 •