HF 2764

as introduced - 86th Legislature (2009 - 2010) Posted on 02/09/2010 11:32pm

A bill for an act
relating to education finance; creating a onetime exception; allowing proceeds
from sale of school district property to be used as operating capital.

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

Section 1. new text begin ONETIME EXCEPTION; PROCEEDS OF SALE.
new text end

new text begin Notwithstanding Minnesota Statutes, section 123B.51, subdivision 6, in fiscal years
2010 or 2011, Independent School District No. 535, Rochester, may deposit the proceeds
of a sale or exchange of school buildings or real property of the district in its general
fund reserved for operating capital account.
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