2005 Minnesota Statutes

     309.63 Appropriation of appreciation.  

    The governing board may appropriate for expenditure for the 
 uses and purposes for which an endowment fund is established so 
 much of the net appreciation, realized and unrealized, in the 
 fair value of the assets of an endowment fund over the historic 
 dollar value of the fund as is prudent under the standard 
 established by section 309.67.  This section does not limit the 
 authority of the governing board to expend funds as permitted 
 under other law, the terms of the applicable gift instrument, or 
 the charter of the institution.  

    HIST: 1973 c 313 s 2