1997 Minnesota Statutes

     124.477 Bond issue; maximum effort school loans; 1988. 

    To provide money to be loaned to school districts as 
 agencies and political subdivisions of the state to acquire and 
 to better public land and buildings and other public 
 improvements of a capital nature, in the manner provided by the 
 maximum effort school aid law, the commissioner of finance shall 
 issue and sell school loan bonds of the state of Minnesota in 
 the maximum amount of $22,000,000, in addition to the bonds 
 already authorized for this purpose.  The same amount is 
 appropriated to the maximum effort school loan fund and must be 
 spent under the direction of the commissioner of children, 
 families, and learning to make debt service loans and capital 
 loans to school districts as provided in sections 124.36 to 
 124.46.  The bonds must be issued and sold and provision for 
 their payment must be made according to section 124.46.  
 Expenses incidental to the sale, printing, execution, and 
 delivery of the bonds, including, but without limitation, actual 
 and necessary travel and subsistence expenses of state officers 
 and employees for those purposes, must be paid from the maximum 
 effort school loan fund, and the money necessary for the 
 expenses is appropriated from that fund. 

    HIST: 1988 c 718 art 8 s 12; 1989 c 300 art 2 s 1; 1991 c 45 s 
 5; 1994 c 465 art 2 s 1; 1Sp1995 c 3 art 16 s 13