Laserfiche WebLink
City of Mounds View <br />203.01 203.01 <br />CHAPTER 203 <br />FUNDS <br />SECTION: <br />203.01: Home Rule Charter, Chapter 202, Bond Redemption Fund <br />203.02: Utilities Operating Funds <br />203.03: Revenue Sharing Fund <br />203.04: Lakeside Park Fund <br />203.05: Park and Playground Fund <br />203.06: Recreation Activity Fund <br />203.07: Storm Water Management Fund <br />203.08: Special Projects Fund <br />203.01:HOME RULE CHARTER, CHAPTER 202, BOND REDEMPTION FUND: <br />Subd. 1. Fund Created: There is hereby created a fund designated as the "Mounds View Home <br />Rule Charter, Chapter 202, Improvement Bond Redemption Fund", which the Finance <br />Director/Treasurer shall maintain on the official books and records of the Municipality and <br />administer in accordance with this Chapter, so long as any bonds directed by the Council to <br />be payable therefrom are outstanding. <br />Subd. 2. Purpose: This Fund shall be used to pay principal and interest only on general obligation <br />improvement bonds issued to finance improvements instituted under the Mounds View <br />Home Rule Charter1 as amended, Chapter 202 of this Title, as amended, or other statutory <br />or Charter provisions amending or supplementing the Home Rule Charter or otherwise <br />authorizing the issuance of general obligation bonds payable primarily from special <br />assessments, whether in whole or in part. <br />Subd. 3. Use of Fund: The Fund shall be used for no other purpose except, when all such <br />principal and interest due have been paid in full, to repay any advances from other funds <br />used for such payments. <br />Subd. 4. Investment of Fund: The Fund may be invested in accordance with Minnesota Statutes, <br />section 475.66 or amendatory or supplementary acts. <br />1 See Charter Section 710 for City indebtedness.