SF 2878

Introduction - 86th Legislature (2009 - 2010)

Posted on 02/25/2010 02:51 p.m.

A bill for an act
relating to education finance; authorizing a fund transfer for Independent School
District No. 11, Anoka-Hennepin.

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

Section 1. new text begin FUND TRANSFER; ANOKA-HENNEPIN.
new text end

new text begin Notwithstanding Minnesota Statutes, sections 123B.79, 123B.80, and 475.61,
subdivision 4, on June 30, 2010, Independent School District No. 11, Anoka-Hennepin,
may permanently transfer an amount not to exceed the five percent excess required under
Minnesota Statutes, section 475.61, for the debt levy payable in 2009 from its debt
redemption fund to its undesignated general fund balance without making a levy reduction.
new text end

new text begin EFFECTIVE DATE. new text end

new text begin This section is effective the day following final enactment.
new text end