Minnesota Legislature
Office of the Revisor of Statutes
2007 Minnesota Statutes
This is an historical version of this statute chapter. Also view the most recent published version.
80A.125 PROHIBITION; NONRECOURSE LOANS.
No part of the offering proceeds resulting from the sale of bonds or similar interest-bearing
securities issued by the United States, any state, any political subdivision of any state, or any
corporate or other instrumentality of one or more of those entities may be loaned to a person on a
nonrecourse basis. This prohibition does not apply to bonds or similar interest-bearing securities:
(1) exempt from registration under section 80A.15;
(2) rated in one of the top four letter rating categories by Fitch Investors Service, Inc.,
Standard and Poor's Corporation, or Moody's Investor Services, Inc.; or
(3) issued to provide housing facilities with respect to which low income tax credits are
to be obtained.
History: 1993 c 271 s 1
NOTE: This section is repealed by Laws 2006, chapter 196, article 1, section 51, effective
August 1, 2007. Laws 2006, chapter 196, article 1, section 52.
No part of the offering proceeds resulting from the sale of bonds or similar interest-bearing
securities issued by the United States, any state, any political subdivision of any state, or any
corporate or other instrumentality of one or more of those entities may be loaned to a person on a
nonrecourse basis. This prohibition does not apply to bonds or similar interest-bearing securities:
(1) exempt from registration under section 80A.15;
(2) rated in one of the top four letter rating categories by Fitch Investors Service, Inc.,
Standard and Poor's Corporation, or Moody's Investor Services, Inc.; or
(3) issued to provide housing facilities with respect to which low income tax credits are
to be obtained.
History: 1993 c 271 s 1
NOTE: This section is repealed by Laws 2006, chapter 196, article 1, section 51, effective
August 1, 2007. Laws 2006, chapter 196, article 1, section 52.
Official Publication of the State of Minnesota
Revisor of Statutes