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SF 427

as introduced - 87th Legislature (2011 - 2012) Posted on 02/23/2012 08:46am

KEY: stricken = removed, old language.
underscored = added, new language.
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A bill for an act
relating to education finance; authorizing fund transfers for Independent School
District No. 728, Elk River.

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

Section 1. new text beginFUND TRANSFERS; ELK RIVER.
new text end

new text begin Notwithstanding Minnesota Statutes, section 123B.79, 123B.80, or 475.61,
subdivision 4, beginning July 1, 2011, and ending June 30, 2013, Independent School
District No. 728, Elk River, may make permanent transfers totaling 80 percent of the
balance on the date of the first transfer from its debt redemption fund to its undesignated
general fund balance without making a levy reduction.
new text end

new text begin EFFECTIVE DATE. new text end

new text begin This section is effective the day following final enactment.
new text end