1.1 	A bill for an act
1.2 	relating to public facilities; increasing the bonding authority of the Public 
1.3 	Facilities Authority;amending Minnesota Statutes 2004, section 446A.12, 
1.4 	subdivision 1.
1.5 	BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA:

1.6 	Section 1. Minnesota Statutes 2004, section 446A.12, subdivision 1, is amended to 
1.7 	read:
1.8 		Subdivision 1.Bonding authority. The authority may issue negotiable bonds in a 
1.9 	principal amount that the authority determines necessary to provide sufficient funds for 
1.10 	achieving its purposes, including the making of loans and purchase of securities, the 
1.11 	payment of interest on bonds of the authority, the establishment of reserves to secure its 
1.12 	bonds, the payment of fees to a third party providing credit enhancement, and the payment 
1.13 	of all other expenditures of the authority incident to and necessary or convenient to carry 
1.14 	out its corporate purposes and powers, but not including the making of grants. Bonds of 
1.15 	the authority may be issued as bonds or notes or in any other form authorized by law. The 
1.16 	principal amount of bonds issued and outstanding under this section at any time may not 
1.17 	exceed $1,250,000,000 $1,500,000,000, excluding bonds for which refunding bonds or 
1.18 	crossover refunding bonds have been issued.