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JUL-30-1998 23:21 +1 612 788 5648 P.03 ��k • WATERSHED DISTRICTS . § 103D.911 r or Subd. 8. Administrative fund. An administrative fund, consisting of an ad valorem tax the levy,may not exceed 0.02418 percent of taxable market value,or$125,000,whichever is less, the a money in the fund shall be used for general administrative expenses and for the f r paid traction or implementation and maintenance of projects of common benefit to the bed district. The managers may make an annual levy for the administrative fund as ,ner FeLxceed Wed in section 103D.911. In addition to the annual administrative levy, the mauaggra rith annually levy a tax not to exceed 0.00798 percent of taxable market value for a period not 15 consecutive years to pay the cost attributable to the basic water management features of projects initiated by petition of a municipality of the watershed district nth itor Subd. 4. Bond fund A bond fund consists of the proceeds of bonds issued by the watershed district secured by the property of the watershed district that is producing or'is to produce a income. The bond fund is to be used for the payment of the led Y Pa regular P ]� i 11 : purchase price of the property or the value of the property as determined by the court in of roper proceedings and for the improvement and development of the property, or Subd. 5. Construction or implementation fund (a) A construction or implementation fund consists of: on- (1) the proceeds of the sale of county bonds; >ts, (2) construction of implementation loans from any agency of the federal government; and ` to (3) special assessments to be levied to supply funds for the construction or implementation of the projects of the watershed district,including reservoirs,ditches,dales,canals, channels, and other works, and the•e_3Tenses incident to and connected with the construction or i^` ich r' srs implementation. !: he (b) Construction or implementation loans from an agency of the federal government may is be repaid from money collected by special assessments on properties benefited by the project. Subd. 6. Preliminary.fund. A preliminary fund consists of funds authorized to be i ovided. The preliminary fund is to be used for preliminary work on proposed works of the watershed district i Subd.7. Repair and maintenance funds. Repair and maintenance funds are established r .A finder section 103D.631,subdivision 2. Subd. S. Survey and data acquisition fund (a) A survey and data acquisition fund is established and used only if other funds are not available to the watershed district to pay for }naking necessary surveys and acquiring data. i' 4 , (b) The survey and data acquisition fund consists of the proceeds of a property tax that can ` be levied only once every five years. The levy may not exceed 0.02418 percent of taxable :'�a 1 nar ket value. r i (c) The balance of the survey and data acquisition fund may not exceed$50,000. ¢� Is (d) In a subsequent proceeding for a project where a survey has been made, the �. ttnbutable cost of the survey as determined by the managers shall be included as s part of e cost of the work and the sum shall be repaid to the survey and data acquisition fund. ig 4ws 1990,c.'391,art 4,§ 69. Amended by Laws 1995,c.199.H 56.57. it Historical and Statutory Notes 1995 Legislation Laws 1989,c.3'29,art.13,§ 20. e ! The 1995 amendment inserted "or implementa- Laws 1989,a 277,art 4,§§ 8 to 10. s bon" in the second sentence of su 3, and Laws 1989,c.719,arL 6,§ 84. throughout subd.6. Laws 1987,c.229,art 3,a 1. Prior Laws: St1989 Sup0.§ 112.61. ! t I ` 63DAlL Budget Subdivision L Hearing. (a) Before adopting a budget, the managers shall hold a public earing'on the proposed budget ! (b) The m„aen shall publish a notice of the hearing with a summary of the proposed budget in one or more newspapers of general circulation in each county consisting of part of �?: 279 Wilil F 177M, MT M i IN TOTAL P.03