Subdivision 1. Generally.
, the terms defined in this section
have the meanings given them herein, unless the context indicates a different meaning.
Subd. 2. Project.
(a) "Project" means (1) any properties, real or personal, used or useful
in connection with a revenue producing enterprise, or any combination of two or more such
enterprises engaged or to be engaged in generating, transmitting, or distributing electricity,
assembling, fabricating, manufacturing, mixing, processing, storing, warehousing, or distributing
any products of agriculture, forestry, mining, or manufacture, or in research and development
activity in this field; (2) any properties, real or personal, used or useful in the abatement or
control of noise, air, or water pollution, or in the disposal of solid wastes, in connection with a
revenue producing enterprise, or any combination of two or more such enterprises engaged or
to be engaged in any business or industry; (3) any properties, real or personal, used or useful
in connection with the business of telephonic communications, conducted or to be conducted
by a telephone company, including toll lines, poles, cables, switching, and other electronic
equipment and administrative, data processing, garage, and research and development facilities;
(4) any properties, real or personal, used or useful in connection with a district heating system,
consisting of the use of one or more energy conversion facilities to produce hot water or steam for
distribution to homes and businesses, including cogeneration facilities, distribution lines, service
facilities, and retrofit facilities for modifying the user's heating or water system to use the heat
energy converted from the steam or hot water.
(b) "Project" also includes any properties, real or personal, used or useful in connection with
a revenue producing enterprise, or any combination of two or more such enterprises engaged
in any business.
(c) "Project" also includes any properties, real or personal, used or useful for the promotion
of tourism in the state. Properties may include hotels, motels, lodges, resorts, recreational facilities
of the type that may be acquired under section
, and related facilities.
(d) "Project" also includes any properties, real or personal, used or useful in connection with
a revenue producing enterprise, whether or not operated for profit, engaged in providing health
care services, including hospitals, nursing homes, and related medical facilities.
(e) "Project" does not include any property to be sold or to be affixed to or consumed in the
production of property for sale, and does not include any housing facility to be rented or used
as a permanent residence.
(f) "Project" also means the activities of any revenue producing enterprise involving the
construction, fabrication, sale, or leasing of equipment or products to be used in gathering,
processing, generating, transmitting, or distributing solar, wind, geothermal, biomass, agricultural
or forestry energy crops, or other alternative energy sources for use by any person or any
residential, commercial, industrial, or governmental entity in heating, cooling, or otherwise
providing energy for a facility owned or operated by that person or entity.
(g) "Project" also includes any properties, real or personal, used or useful in connection
with a county jail, county regional jail, community corrections facilities authorized by chapter
401, or other law enforcement facilities, the plans for which are approved by the commissioner
of corrections; provided that the provisions of section
469.155, subdivisions 7 and 13
, do not
apply to those projects.
(h) "Project" also includes any real properties used or useful in furtherance of the purposes
and policies of sections
(i) "Project" also includes related facilities as defined by section
471A.02, subdivision 11
(j) "Project" also includes an undertaking to purchase the obligations of local governments
located in whole or in part within the boundaries of the municipality that are issued or to be
issued for public purposes.
Subd. 3. Municipality.
"Municipality" means any home rule charter or statutory city,
any town described in section
, and any county if (1) the project is located outside the
boundaries of a city or a town described in section
or (2) the project involves telephonic
communications conducted by or to be conducted by a telephone company, or financial or other
assistance to rail users as defined in section
222.48, subdivision 6
, for the purpose of making
capital investment loans for rail line rehabilitation. In any case in which a city or town described
has consented to the issuance of bonds by a county on behalf of an organization
described in section 501(c)(3) of the Internal Revenue Code of 1986, as amended through
December 31, 1986, to finance a project within its boundaries or to refund bonds previously
issued by such city or town, "municipality" means any county.
Subd. 4. Redevelopment agency.
"Redevelopment agency" means any port authority
referred to in sections
, or any city authorized by general or special law to
exercise the powers of a port authority; any economic development authority referred to in sections
; any housing and redevelopment authority referred to in sections
or any body authorized to exercise the powers of a housing and redevelopment authority;
and any area or municipal redevelopment agency referred to in sections
Subd. 5. Commissioner.
"Commissioner" means the commissioner of employment and
Subd. 6. Department.
"Department" means the Department of Employment and Economic
Subd. 7. Telephone company.
"Telephone company" means any person, firm, association,
including a cooperative association formed pursuant to chapter 308A, or corporation, excluding
municipal telephone companies, operating for hire any telephone line, exchange, or system,
wholly or partly within this state.
Subd. 8. Contracting party.
"Contracting party" means a party to a revenue agreement other
than the municipality or redevelopment agency.
Subd. 9. Revenues.
"Revenues" of a project include payments under a revenue agreement, or
under notes, debentures, bonds, and other secured or unsecured debt obligations of a contracting
Subd. 10. Revenue agreement.
"Revenue agreement" means any written agreement between
a municipality or redevelopment agency and a contracting party with respect to a project, whereby
the contracting party agrees to pay to the municipality or redevelopment agency or its order
amounts sufficient at all times to pay when due the principal of, premium, if any, and interest
on all bonds issued by the municipality or redevelopment agency with respect to that project. A
revenue agreement may be in the form of a lease, mortgage, direct or installment sale contract,
loan agreement, take or pay or similar agreement, and be secured in manner the parties agree or be
unsecured. A revenue agreement must satisfy the requirements of section
469.155, subdivision 5
Subd. 11. Trustee.
"Trustee" means any corporation, bank, or other entity authorized under
any law of the United States or of any state to exercise trust powers, or any natural person,
acting as trustee, cotrustee or successor trustee under an indenture pursuant to designation of the
municipality or redevelopment agency.
Subd. 12. Alternative energy.
"Alternative energy" means any energy source which does
not depend upon nuclear fuel or nonrenewable fossil fuel, or which makes available another
energy source which currently is wasted and which includes, but is not limited to, cogeneration or
Subd. 13. Related public improvements.
"Related public improvements" means any public
improvements described in section
, that are acquired and constructed in connection with
the project and are financed by the contracting party under the revenue agreement.
History: 1987 c 291 s 154,243; 1987 c 312 art 1 s 26 subd 2; 1987 c 344 s 18; 1989 c 355 s
5; 1989 c 356 s 19; 1992 c 511 art 9 s 19; 2002 c 390 s 9; 1Sp2003 c 4 s 1