as introduced - 92nd Legislature (2021 - 2022) Posted on 03/29/2022 03:40pm
A bill for an act
relating to local government; providing additional investment authority for certain
self-insurance pools; proposing coding for new law in Minnesota Statutes, chapter
118A.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA:
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For the purposes of this section, "qualifying government"
means a self-insurance pool formed under section 471.982.
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A qualifying government may invest in the
securities specified in section 11A.24 according to the limitations under subdivision 3.
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Before investing pursuant to this section, the governing body of a
qualifying government must adopt an investment policy pursuant to a resolution that includes
both of the following statements:
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(1) the governing body understands that investments under this section have a risk of
loss; and
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(2) the governing body understands the type of funds that are being invested and the
specific investment itself.
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This section is effective the day following final enactment.
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