SF 2370

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

  1.1                          A bill for an act 
  1.2             relating to capital improvements; authorizing state 
  1.3             bonds; appropriating money for a new pre K-12 facility 
  1.4             for McLeod West Interdistrict Cooperative. 
  1.5   BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA: 
  1.6      Section 1.  [MCLEOD WEST INTERDISTRICT COOPERATIVE.] 
  1.7      Subdivision 1.  [APPROPRIATION.] (a) $12,000,000 is 
  1.8   appropriated from the bond proceeds fund to the McLeod West 
  1.9   Interdistrict Cooperative, made up of independent school 
  1.10  district Nos. 421 and 426, for the construction of a new 
  1.11  prekindergarten through grade 12 educational facility. 
  1.12     (b) The appropriation must be matched by a local maximum 
  1.13  tax effort of 22 percent for the balance of the cost of the 
  1.14  project. 
  1.15     (c) The appropriation is available only after an 
  1.16  affirmative vote of a majority of district residents voting on 
  1.17  the question to form a consolidated district. 
  1.18     Subd. 2.  [BOND SALE.] To provide the money appropriated by 
  1.19  this section from the bond proceeds fund, the commissioner of 
  1.20  finance, on request of the governor, shall sell and issue bonds 
  1.21  of the state in an amount up to $12,000,000 in the manner, on 
  1.22  the terms, and with the effect prescribed by Minnesota Statutes, 
  1.23  sections 16A.631 to 16A.675, and by the Minnesota Constitution, 
  1.24  article XI, sections 4 to 7. 
  1.25     Sec. 2.  [EFFECTIVE DATE.] 
  2.1      Section 1 is effective the day after its final enactment.