HF 449

as introduced - 84th Legislature (2005 - 2006) Posted on 12/15/2009 12:00am

A bill for an act
relating to bond allocations; increasing the reserve
from the public facilities pool for Western Lake
Superior Sanitary District projects; amending
Minnesota Statutes 2004, section 474A.061, subdivision
2c.

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

Section 1.

Minnesota Statutes 2004, section 474A.061,
subdivision 2c, is amended to read:

Subd. 2c.

Public facilities pool allocation.

From the
beginning of the calendar year and continuing for a period of
120 days, the commissioner shall reserve deleted text begin $3,000,000 deleted text end new text begin $5,000,000
new text end of the available bonding authority from the public facilities
pool for applications for public facilities projects to be
financed by the Western Lake Superior Sanitary District.
Commencing on the second Tuesday in January and continuing on
each Monday through the last Monday in July, the commissioner
shall allocate available bonding authority from the public
facilities pool to applications for eligible public facilities
projects received on or before the Monday of the preceding
week. If there are two or more applications for public
facilities projects from the pool and there is insufficient
available bonding authority to provide allocations for all
projects in any one week, the available bonding authority shall
be awarded by lot unless otherwise agreed to by the respective
issuers.