Minnesota Statutes 455.14 – Obligation Not Indebtedness
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The obligation incurred by any such city in the making of such contracts shall not be considered as a part of its indebtedness under the provisions of its governing charter or of any law of this state fixing a limit of indebtedness for such city.
Terms Used In Minnesota Statutes 455.14
- Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
- state: extends to and includes the District of Columbia and the several territories. See Minnesota Statutes 645.44