HF 2138

as introduced - 80th Legislature (1997 - 1998) Posted on 12/15/2009 12:00am

  1.1                          A bill for an act 
  1.2             relating to education; authorizing a lease levy for 
  1.3             independent school district No. 622, North St. 
  1.4             Paul-Maplewood. 
  1.5   BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA: 
  1.6      Section 1.  [LEASE LEVY; NORTH ST. PAUL-MAPLEWOOD.] 
  1.7      Notwithstanding Minnesota Statutes, section 124.91, 
  1.8   subdivision 1, independent school district No. 622, North St. 
  1.9   Paul-Maplewood, annually may levy the amount necessary to pay 
  1.10  its obligations under a lease or a lease with option to purchase 
  1.11  agreement during the term of that agreement for the financing of 
  1.12  capital improvements approved by its school board to the 
  1.13  building, or any portion thereof, at 2520 East Twelfth Avenue, 
  1.14  North St. Paul.  The agreement may include a sale and leaseback 
  1.15  with option to purchase with a public or private entity.  The 
  1.16  agreement is not required to include a nonappropriation clause.  
  1.17  An election is not required in connection with the execution of 
  1.18  the agreement and the obligation created by the agreement does 
  1.19  not constitute debt and must not be included in the calculation 
  1.20  of net debt for the district.