Minn. Stat. § 103E.651

DRAINAGE SYSTEM ACCOUNT.

Applied in 1 court decision — leading case In RE: The APPEAL FROM the FINAL ORDER OF the BOARD OF MANAGERS OF the BOIS DE SIOUX WATERSHED DISTRICT REDETERMINING BENEFITS AND DAMAGES FOR J.D. NO. 14 DATED 20TH DAY OF FEBRUARY, 2014 and in Re: The Appeal From the Final Order of the Board of Managers of the Bois De Sioux Watershed District Assessing Costs and Expenses of Redetermination Associated With the Redetermination of Benefits of J.D. No. 14 Dated the 27th Day of March, 2014 and in Re the Appeal From the Final Order of the Board of Managers of the Bois De Sioux Watershed District Assessing Costs and Expenses of Redetermination Associated With the Redetermination of Benefits of J.D. No. 14 Dated the 18th Day of December, 2014 (2016)

Most recently applied in In RE: The APPEAL FROM the FINAL ORDER OF the BOARD OF MANAGERS OF the BOIS DE SIOUX WATERSHED DISTRICT REDETERMINING BENEFITS AND DAMAGES FOR J.D. NO. 14 DATED 20TH DAY OF FEBRUARY, 2014 and in Re: The Appeal From the Final Order of the Board of Managers of the Bois De Sioux Watershed District Assessing Costs and Expenses of Redetermination Associated With the Redetermination of Benefits of J.D. No. 14 Dated the 27th Day of March, 2014 and in Re the Appeal From the Final Order of the Board of Managers of the Bois De Sioux Watershed District Assessing Costs and Expenses of Redetermination Associated With the Redetermination of Benefits of J.D. No. 14 Dated the 18th Day of December, 2014 (December 2016)

1990 c 391 art 5 s 87

Subdivision 1. Funds for costs.

The board shall provide funds to pay the costs of drainage projects and systems.

Subd. 2. Accounts.

The auditor shall keep a separate account for each drainage system. The account must be credited with all money from the sale of bonds and bond premiums and all money received from interest, liens, assessments, and other sources for the drainage system. The account must be debited with every item of expense made for the drainage system.

Subd. 3. Investing surplus funds.

If a drainage system account or the common drainage bond redemption fund has a surplus over the amount required for payment of obligations presently due and payable from the account or fund, the board may invest any part of the surplus in bonds or certificates of indebtedness of the United States or of the state.

Subd. 4. Dormant account transferred to general revenue fund.

If a surplus has existed in a drainage system account for a period of 20 years or more and there have not been any expenditures from the account during the period, the board, by a unanimous resolution, may transfer the surplus remaining in the drainage system account to the general revenue fund of the county.

Official source: Minnesota Office of the Revisor of Statutes. Reproduced from public-domain Minnesota statutes; confirm against the official source for the current text. Not legal advice.