SF 1930

as introduced - 87th Legislature (2011 - 2012) Posted on 02/21/2012 08:53am

A bill for an act
relating to education finance; authorizing a onetime fund transfer in certain
school districts.

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

Section 1. new text begin FUND TRANSFERS.
new text end

new text begin Subdivision 1. new text end

new text begin Delano. new text end

new text begin Notwithstanding Minnesota Statutes, sections 123B.57,
123B.80, and 475.61, subdivision 4, on June 30, 2012, Independent School District No.
879, Delano, may permanently transfer up to $235,000 from its debt redemption fund to
its reserved for operating capital account without making a levy reduction.
new text end

new text begin Subd. 2. new text end

new text begin Monticello. new text end

new text begin Notwithstanding Minnesota Statutes, sections 123B.57,
123B.80, and 475.61, subdivision 4, on June 30, 2012, Independent School District No.
882, Monticello, may permanently transfer up to $500,000 from its debt redemption fund
to its reserved for operating capital account without making a levy reduction.
new text end

new text begin Subd. 3. new text end

new text begin Rockford. new text end

new text begin Notwithstanding Minnesota Statutes, sections 123B.79,
123B.80, and 475.61, subdivision 4, on June 30, 2012, Independent School District No.
883, Rockford, may permanently transfer up to $550,000 from its debt redemption fund to
its reserved for capital account without making a levy reduction.
new text end