HF 2117

as introduced - 92nd Legislature (2021 - 2022) Posted on 03/11/2021 02:42pm

A bill for an act
relating to education finance; authorizing a fund transfer for Independent School
District No. 191, Burnsville-Eagan-Savage.

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

Section 1. new text begin FUND TRANSFER; BURNSVILLE-EAGAN-SAVAGE SCHOOL
DISTRICT.
new text end

new text begin (a) Notwithstanding Minnesota Statutes, section 123B.51, subdivision 4, paragraph (b),
or any law to the contrary, any remaining net proceeds received by the district in connection
with a lease of real property that is not needed for school purposes or part of the property
that is not needed for school purposes permitted under Minnesota Statutes, section 123B.51,
subdivision 4, paragraph (a), which property the school board of Independent School District
No. 191, Burnsville-Eagan-Savage, has specifically identified in its open facilities action
plan, may be deposited in the district's general unrestricted fund following the deposit of
such proceeds in the debt retirement fund of the district in an amount sufficient to meet
when due that percentage of the principal and interest payments for outstanding bonds that
is ascribable to the payment of expenses necessary and incidental to the construction or
purchase of the particular building or property that is leased.
new text end

new text begin (b) Notwithstanding Minnesota Statutes, section 123B.51, subdivision 6, paragraphs (c)
through (f), or any law to the contrary, any remaining proceeds of the sale or exchange of
school buildings or real property of Independent School District No. 191,
Burnsville-Eagan-Savage, specifically identified in the district's open facilities action plan
may be deposited in the district's general unrestricted fund following application of such
proceeds, as required under Minnesota Statutes, section 123B.51, subdivision 6, paragraph
(b).
new text end

new text begin EFFECTIVE DATE. new text end

new text begin This section is effective upon compliance by Independent School
District No. 191, Burnsville-Eagan-Savage, with Minnesota Statutes, section 645.021,
subdivisions 2 and 3.
new text end