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HF 2894

as introduced - 86th Legislature (2009 - 2010) Posted on 02/10/2010 03:53pm

KEY: stricken = removed, old language.
underscored = added, new language.
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A bill for an act
 relating to natural resources; increasing watershed district borrowing authority;
amending Minnesota Statutes 2008, section 103D.335, subdivision 17.

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

Section 1.

Minnesota Statutes 2008, section 103D.335, subdivision 17, is amended to
read:


Subd. 17.

Borrowing funds.

The managers may borrow funds from an agency of
the federal government, a state agency, a county where the watershed district is located
in whole or in part, or a financial institution authorized under chapter 47 to do business
in this state. A county board may lend the amount requested by a watershed district. A
watershed district may not have more than a total of deleted text begin $600,000deleted text end new text begin $2,000,000new text end in loans from
counties and financial institutions under this subdivision outstanding at any time.