1.1 	A bill for an act
1.2 	relating to education; modifying certain bonding election timing provisions for 
1.3 	school districts;amending Minnesota Statutes 2010, sections 475.53, subdivision 
1.4 	5; 475.58, by adding a subdivision.
1.5 	BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA:

1.6 	Section 1. Minnesota Statutes 2010, section 475.53, subdivision 5, is amended to read:
1.7 		Subd. 5.Certain independent school districts. No independent school district 
1.8 	located wholly or partly within a city of the first class shall issue obligations with a term 
1.9 	of more than two years, whenever the aggregate of the outstanding obligations of the 
1.10 	district equals or exceeds 0.7 percent of the market value of the taxable property within 
1.11 	the school district.

1.12 	Sec. 2. Minnesota Statutes 2010, section 475.58, is amended by adding a subdivision 
1.13 	to read:
1.14 		Subd. 1b.School districts. A school district election under this section must be 
1.15 	held on the first Tuesday after the first Monday in November.