Minnesota Session Laws - 2004, Regular Session

                            CHAPTER 175-S.F.No. 1815 
                  An act relating to metropolitan government; 
                  authorizing the State Board of Investment to invest 
                  certain funds or assets of the Metropolitan Council 
                  upon request; amending Minnesota Statutes 2002, 
                  section 473.13, by adding a subdivision. 
        BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA: 
           Section 1.  Minnesota Statutes 2002, section 473.13, is 
        amended by adding a subdivision to read: 
           Subd. 5.  [INVESTING POSTRETIREMENT RESERVES.] The State 
        Board of Investment, when requested by the council, 
        notwithstanding chapter 118A, may invest any funds or assets 
        that the council may hold as a reserve for the payment of 
        potential and estimated postretirement benefits to employees of 
        the council.  The reserve of funds or assets by the council for 
        potential and estimated postretirement benefits, and their 
        investment by the State Board of Investment under this 
        subdivision, does not constitute an irrevocable dedication of 
        the funds or assets for such use.  
           Sec. 2.  [APPLICATION.] 
           This act applies in the counties of Anoka, Carver, Dakota, 
        Hennepin, Ramsey, Scott, and Washington.  
           Sec. 3.  [EFFECTIVE DATE.] 
           This act is effective the day following its final enactment.
           Presented to the governor May 6, 2004 
           Signed by the governor May 10, 2004, 12:35 p.m.