§ 422.120. Limitations.  


Latest version.
  • The powers granted to the agency by this chapter shall be limited as follows:

    (1)

    The agency shall not issue any general obligation bonds for which the full faith and credit of the City of Minneapolis or the tax base of the city is pledged, unless approved by city council.

    (2)

    The allocation of funds for the agency shall be in accordance with the budget process for the city departments as provided in the Minneapolis City Charter and as implemented by the city council and mayor.

    (3)

    The agency shall not levy any tax upon any real or personal property unless approved by the city council.

    (4)

    The agency shall be subject to and shall comply with the affirmative action, emerging small business enterprise, and contract compliance ordinances, resolutions, rules, regulations and guidelines of the city.

    (5)

    The agency is not granted hereby and shall not exercise any powers relating to public housing contained in Minnesota Statute Sections 469.001 through 469.047, or any other powers relating to public housing. (86-Or-035, 2-28-86; 88-Or-224, § 4, 12-30-88; 96-Or-003, § 5, 2-9-96)