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429.101 -2014 Minnesota Statutes Page 2 of 2 <br /> obligations to defray the expense of any such work financed in whole or in part by special <br /> charges and assessments imposed upon benefited property under this secrion. <br /> (b)Secrion 429.091 shall apply to such obligations with the following modifications: <br /> (1)such obligations shall be payable not more than two years from the date of <br /> issuance; <br /> (2)the amount of such obligations issued at one time in a municipality shall not <br /> exceed the cost of such work during the ensuing six months as estimated by the council; <br /> (3)a separate improvement fund shall be set up for each of the enumerated services <br /> referred to in subdivision 1 and financed under this section. <br /> (c)Proceeds of special charges as well as special assessments and ta�ces sha11 be <br /> credited to such improvement fund. <br /> History: 1953 c 398 s 10: 1955 c 811 s 6: 1963 c 771 s S: 1965 c 323 s 2; 1973 c <br /> 337 s 1: 1974 c 340 s 1,2; 1984 c 548 s 7; 1984 c 582 s 7; 1984 c 591 s 6; 1984 c 633 s 5; <br /> 1986 c 444; 1 Sp2003 c 21 art 11 s 29;2004 c 275 s 2:2008 c 366 art 6 s 42;2010 c 216 s <br /> 22•2013c85art8s6 <br /> Convriaht n 2014 by the Revisor of Statutes, State of Minnesota. All rights reserved. <br /> https://www.revisor.mn.gov/statutes/?id=429.101 2/19l2015 <br />