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SF 2412

as introduced - 88th Legislature (2013 - 2014) Posted on 03/06/2014 04:36pm

KEY: stricken = removed, old language.
underscored = added, new language.

Current Version - as introduced

Line numbers 1.1 1.2 1.3 1.4 1.5
1.6 1.7 1.8 1.9 1.10

A bill for an act
relating to capital investment; limiting use of borrowed funds for capital
investment projects; amending Minnesota Statutes 2012, section 16A.641, by
adding a subdivision.

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

Section 1.

Minnesota Statutes 2012, section 16A.641, is amended by adding a
subdivision to read:


new text begin Subd. 14. new text end

new text begin Limiting use of borrowed funds. new text end

new text begin No more than 90 percent of the state
share of funding for a capital program, project, or project phase may be funded through
the sale of bonds or any other borrowed funds.
new text end