2025 Session
Last amended: 1998 session
§ 123B.55 — Debt Service Levy
Plain-Language Summary
Authorizes school districts to levy property taxes for debt service on bonds.
123B.55 DEBT SERVICE LEVY.
A district may levy the amounts necessary to make payments for bonds issued and for interest on them, including the bonds and interest on them, issued as authorized by Minnesota Statutes 1974, section 275.125, subdivision 3, clause (7)(C); and the amounts necessary for repayment of debt service loans and capital loans, minus the amount of debt service equalization revenue of the district.
History:
1991 c 265 art 5 s 10; 1998 c 397 art 7 s 124,164
History: History: 1991 c 265 art 5 s 10; 1998 c 397 art 7 s 124,164
Practical Notes
Districts can collect property taxes to make payments on their school building bonds.