1999 Minnesota Statutes

     446A.05 Project loans. 

    Subdivision 1.    Loans and loan purchases.  The 
 authority may make and contract to make loans to governmental 
 units to finance projects that the governmental unit may 
 construct or acquire or may acquire or contract to acquire notes 
 and bonds issued by governmental units to finance those 
 projects.  A loan may not be used to pay current expenses or 
 obligations, except for temporary financing.  A loan made by the 
 authority must be secured by notes or bonds of the borrowing 
 governmental unit. 

    Subd. 2.    Rules.  The commissioner may adopt rules 
 governing loans awarded under this section. 

    HIST: 1987 c 386 art 3 s 22; 1988 c 546 s 3