1.1A bill for an act1.2relating to natural resources; increasing watershed district borrowing authority;1.3amending Minnesota Statutes 2008, section 103D.335, subdivision 17.1.4BE 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 1.6read:1.7    Subd. 17. Borrowing funds.(a) The managers may borrow funds from an agency 1.8of the federal government, a state agency, a county where the watershed district is located 1.9in whole or in part, or a financial institution authorized under chapter 47 to do business 1.10in this state. A county board may lend the amount requested by a watershed district. A 1.11watershed district may not have more than a total of $600,000 in loans from counties and 1.12financial institutions under this subdivision outstanding at any time.1.13(b) Notwithstanding paragraph (a), a watershed district may have up to a total 1.14of $2,000,000 in loans from counties and financial institutions under this subdivision 1.15outstanding at any time if the taxable market value of property within the watershed 1.16district is more than $500,000,000.