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Minnesota Statutes 2003, 475.521 (1) the condition of the city's existing infrastructure, including the projected need for repair or replacement; (2) the likely demand for the improvement; (3) the estimated cost of the improvement; (4) the available public resources; (5) the level of overlapping debt in the city; (6) the relative benefits and costs of alternative uses of the funds; (7) operating costs of the proposed improvements; and (8) alternatives for providing services most efficiently through shared facilities with other cities or local government units. (b) The capital improvement plan and annual amendments to it must be approved by the city council after public hearing. Subd. 4. Limitations on amount. A city may not issue bonds under this section if the maximum amount of principal and interest to become due in any year on all the outstanding bonds issued under this section, including the bonds to be issued, will equal or exceed 0.05367 percent of taxable market value of property in the county. Calculation of the limit must be made using the taxable market value for the taxes payable year in which the obligations are issued and sold. This section does not limit the authority to issue bonds under any other special or general law. Subd. 5. Application of this chapter. Bonds to finance capital improvements qualifying under this section must be issued under the issuance authority in this chapter and the provisions of this chapter apply, except as otherwise specifically provided in this section. RIST: 2003 c 127 art 12 s 16; lSp2003 c 21 art 10 s 11 Page 2 0 Copyright 2003 by the Office of Revisor of Statutes, State of Minnesota. http://www.revisor.1eg.state.mn.UJ3Istats/475/521.html 313112C