2003 Minnesota Statutes

     136A.171 Revenue bonds; issuance; proceeds. 

    The Higher Education Services Office may issue revenue 
 bonds to obtain funds for loans made in accordance with the 
 provisions of this chapter.  The aggregate amount of revenue 
 bonds, issued directly by the office, outstanding at any one 
 time, not including refunded bonds or otherwise defeased or 
 discharged bonds, shall not exceed $850,000,000.  Proceeds from 
 the issuance of bonds may be held and invested by the office 
 pending disbursement in the form of loans.  All interest and 
 profits from the investments shall inure to the benefit of the 
 office and shall be available to the office for the same 
 purposes as the proceeds from the sale of revenue bonds 
 including, but not limited to, costs incurred in administering 
 loans under this chapter and loan reserve funds. 

    HIST: 1973 c 605 s 12; 1975 c 271 s 6; 1975 c 390 s 6; 1977 c 
 384 s 15; 1979 c 238 s 6; 1980 c 537 s 1; 1981 c 300 s 9; 1995 c 
 212 art 3 s 59; 1997 c 183 art 3 s 16; 2003 c 133 art 3 s 3