2006 Minnesota Statutes

360.017 STATE AIRPORTS FUND.
     Subdivision 1. Creation; authorized disbursements. (a) There is hereby created a fund
to be known as the state airports fund. The fund shall consist of all money appropriated to it, or
directed to be paid into it, by the legislature.
     (b) The state airports fund shall be paid out on authorization of the commissioner and shall
be used:
     (1) to acquire, construct, improve, maintain, and operate airports and other air navigation
facilities;
     (2) to assist municipalities in the acquisition, construction, improvement, and maintenance
of airports and other air navigation facilities;
     (3) to assist municipalities to initiate, enhance, and market scheduled air service at their
airports;
     (4) to promote interest and safety in aeronautics through education and information; and
     (5) to pay the salaries and expenses of the Department of Transportation related to aeronautic
planning, administration, and operation. All allotments of money from the state airports fund for
salaries and expenses shall be approved by the commissioner of finance.
    (c) A municipality that adopts a comprehensive plan that the commissioner finds is
incompatible with the state aviation plan is not eligible for assistance from the state airports fund.
    Subd. 2. Investment. Upon request of the commissioner, money in the state airports fund
shall be invested by the State Board of Investment in the class of securities specified in section
11A.25 and acts amendatory thereto, except the bonds of any school district, county, city or
town of this state. All interest and profits from such investments shall be credited to the state
airports fund. The commissioner of finance shall be custodian of all securities purchased under
the provisions of this section.
History: 1945 c 303 s 5; 1965 c 167 s 1; 1971 c 25 s 68; 1973 c 123 art 5 s 7; 1976 c 166
s 118; 1980 c 607 art 14 s 46; 1982 c 617 s 24; 1997 c 159 art 2 s 47; 2003 c 112 art 2 s 50;
2006 c 261 s 2