HF 1778

as introduced - 87th Legislature (2011 - 2012) Posted on 01/24/2012 10:17am

A bill for an act
relating to capital improvements; appropriating money for a cooperative facilities
grant to Independent School District No. 2134, United South Central; authorizing
the sale and issuance of state bonds.

BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA:

Section 1. new text begin UNITED SOUTH CENTRAL.
new text end

new text begin Subdivision 1. new text end

new text begin Approval timelines. new text end

new text begin Independent School District No. 2134,
United South Central, may submit an application for a cooperative facilities grant to the
commissioner of education at any time. Notwithstanding the application and review
timelines in Minnesota Statutes, section 123A.443, the commissioner must either approve
or reject the application within 60 days of its receipt.
new text end

new text begin Subd. 2. new text end

new text begin Referendum. new text end

new text begin Notwithstanding the 180-day limit in Minnesota Statutes,
section 123A.443, subdivision 7, Independent School District No. 2134, United South
Central, must conduct an election authorizing the sale of bonds within 360 days of the
date of the grant approval.
new text end

Sec. 2. new text begin APPROPRIATION.
new text end

new text begin $20,000,000 is appropriated from the bond proceeds fund to the commissioner of
education for a cooperative facilities grant to Independent School District No. 2134,
United South Central, if the application in section 1 is approved.
new text end

Sec. 3. new text begin BOND SALE.
new text end

new text begin To provide the money appropriated in section 2 from the bond proceeds fund, the
commissioner of management and budget shall sell and issue bonds of the state in an
amount up to $20,000,000 in the manner, upon the terms, and with the effect prescribed by
Minnesota Statutes, sections 16A.631 to 16A.675, and by the Minnesota Constitution,
article XI, sections 4 to 7.
new text end

Sec. 4. new text begin EFFECTIVE DATE.
new text end

new text begin Sections 1 to 3 are effective the day following final enactment.
new text end