SF 54

as introduced - 79th Legislature (1995 - 1996) Posted on 12/15/2009 12:00am

  1.1                          A bill for an act
  1.2             relating to juvenile corrections facilities; 
  1.3             authorizing local government financing of the nonstate 
  1.4             share of the cost of the northwestern Minnesota 
  1.5             juvenile training center; amending Laws 1994, chapter 
  1.6             643, section 79, subdivision 7. 
  1.7   BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA: 
  1.8      Section 1.  Laws 1994, chapter 643, section 79, subdivision 
  1.9   7, is amended to read: 
  1.10     Subd. 7.  [BONDS FOR LOCAL SHARE.] Counties receiving a 
  1.11  grant under this section or section 7, subdivision 11, may issue 
  1.12  general obligation bonds under chapter 475 without an election 
  1.13  to finance the nonstate share of the cost of the facility, and 
  1.14  the indebtedness will not be included in the net debt limit of 
  1.15  the county.  Groups of counties receiving a grant may issue 
  1.16  these bonds individually, or may agree that the bonds will be 
  1.17  issued by a single county, with the full faith, credit, and 
  1.18  taxing power of each of the counties in the group pledged for 
  1.19  the repayment of the obligations. 
  1.20     Sec. 2.  [EFFECTIVE DATE.] 
  1.21     Section 1 is effective the day following final enactment.