1.1 	A bill for an act
1.2 	relating to natural resources; increasing watershed district borrowing authority;
1.3 	amending Minnesota Statutes 2008, section 103D.335, subdivision 17.
1.4 	BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA:

1.5 	Section 1. Minnesota Statutes 2008, section 103D.335, subdivision 17, is amended to 
1.6 	read:
1.7 		Subd. 17.Borrowing funds. (a) The managers may borrow funds from an agency 
1.8 	of the federal government, a state agency, a county where the watershed district is located 
1.9 	in whole or in part, or a financial institution authorized under chapter 47 to do business 
1.10 	in this state. A county board may lend the amount requested by a watershed district. A 
1.11 	watershed district may not have more than a total of $600,000 in loans from counties and 
1.12 	financial institutions under this subdivision outstanding at any time.
1.13 	(b) Notwithstanding paragraph (a), a watershed district may have up to a total 
1.14 	of $2,000,000 in loans from counties and financial institutions under this subdivision 
1.15 	outstanding at any time if the taxable market value of property within the watershed 
1.16 	district is more than $500,000,000.