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Minnesota Legislature

Office of the Revisor of Statutes

SF 571

as introduced - 91st Legislature (2019 - 2020) Posted on 01/28/2019 03:43pm

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

Current Version - as introduced

Line numbers 1.1 1.2 1.3 1.5
1.6 1.7 1.8 1.9 1.10 1.11 1.12 1.13 1.14

A bill for an act
relating to economic development; port authorities; requiring a majority vote of
commissioners to approve real property sales and transfers; amending Minnesota Statutes 2018, section 469.055, subdivision 7.


Section 1.

Minnesota Statutes 2018, section 469.055, subdivision 7, is amended to read:

Subd. 7.

Sale of realty.

The authority may sell, convey, and exchange any real or personal
property owned or held by it in any manner and on any terms it wishes. Real property owned
by the authority must not be sold, deleted text beginbedeleted text end exchanged, or have its title transferred without approval
of deleted text begintwo-thirdsdeleted text endnew text begin a majoritynew text end of the commissioners. All commissioners must have ten days'
written notice of a regular or special meeting at which a sale, conveyance, exchange, or
transfer of property is to be voted on. The notice must contain a complete description of the
affected real estate. The resolution authorizing the real estate transaction is not effective
unless a quorum is present.