as introduced - 93rd Legislature (2023 - 2024) Posted on 04/20/2023 08:49am
A bill for an act
relating to capital investment; appropriating money for Independent School District
No. 319, Nashwauk-Keewatin, and Independent School District No. 2906, Red
Lake County Central; authorizing the sale and issuance of state bonds.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA:
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$10,000,000 is appropriated
from the bond proceeds fund to the commissioner of education for a grant to Independent
School District No. 319, Nashwauk-Keewatin, to cover a deficiency in funding for capital
expenses for a school renovation project for which a referendum was passed in March of
2022.
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$10,000,000 is appropriated from
the bond proceeds fund to the commissioner of education for a grant to Independent School
District No. 2906, Red Lake County Central, to cover a deficiency in funding for capital
expenses for a school renovation project for which a referendum was passed in March of
2022.
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To provide the money appropriated in this section from the bond
proceeds fund, the commissioner of management and budget shall sell and issue bonds of
the state in an amount up to $20,000,000 in the manner, upon the terms, and with the effect
prescribed by Minnesota Statutes, sections 16A.631 to 16A.675, and by the Minnesota
Constitution, article XI, sections 4 to 7.
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This section is effective the day following final enactment.
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