Minnesota Session Laws - 1995, Regular Session

                             CHAPTER 80-H.F.No. 823 
                  An act relating to hospitals; removing an exception 
                  for certain cities and counties from certain hospital 
                  financing activities; amending Minnesota Statutes 
                  1994, section 447.45, subdivision 1. 
        BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA: 
           Section 1.  Minnesota Statutes 1994, section 447.45, 
        subdivision 1, is amended to read: 
           Subdivision 1.  [FINANCING.] A county, city, or hospital 
        district, except cities of the first class and counties 
        containing cities of the first class, may issue revenue bonds by 
        resolution of its governing body to finance the acquisition and 
        betterment of hospital, nursing home, and related medical 
        facilities.  This power is in addition to other powers granted 
        by law and includes, but is not limited to, the payment of 
        interest during construction and for a reasonable period after 
        construction and the establishment of reserves for bond payment 
        and for working capital.  In connection with the acquisition of 
        any existing hospital or nursing home facilities, the city, 
        county, or district may retire outstanding indebtedness incurred 
        to finance the construction of the existing facilities.  
           Sec. 2.  [EFFECTIVE DATE.] 
           Section 1 is effective on the day following final enactment.
           Presented to the governor April 20, 1995 
           Signed by the governor April 21, 1995, 1:45 p.m.