2007 Minnesota Statutes

116M.16 POWERS.
    Subdivision 1. Contracts. The board may enter into contracts and grant agreements
necessary to carry out its responsibilities.
    Subd. 2. Gifts; grants; appropriation. The board may apply for, accept, and disburse gifts,
grants, loans, or other property from the United States, the state, private foundations, or any other
source. It may enter into an agreement required for the gifts, grants, or loans and may hold, use,
and dispose of its assets in accordance with the terms of the gift, grant, loan, or agreement. Money
received by the board under this subdivision must be deposited in a separate account in the
state treasury and invested by the state Board of Investment. The amount deposited, including
investment earnings, is appropriated to the board to carry out its duties.
History: 1993 c 369 s 56; 1995 c 224 s 59