2006 Minnesota Statutes

161.05 MS 1957 [Repealed, 1959 c 500 art 6 s 13]
161.05 TEMPORARY LOANS.
    Subdivision 1. Loans from other public funds. For the purpose of providing sufficient
money in the trunk highway fund to meet the state's share of highway projects financed in part
by federal funds, the commissioner of finance may borrow from other public funds a sum not
exceeding in the aggregate the amount of federal aid allotted to the construction of trunk highways
under project appropriation by the federal government. No fund shall be so impaired thereby that
all proper demands thereon cannot be met.
    Subd. 2. Interest. All such loans shall bear interest at the average rate that the commissioner
of finance has realized from the investment of surplus cash.
    Subd. 3. Certificate. Before the commissioner of finance shall make any such loan, the
commissioner shall file with the commissioner of finance a certificate showing the amount of
disbursements from the trunk highway fund which are to be repaid to the state by the federal
government.
    Subd. 4. Federal aid paid to commissioner of finance. All funds received from federal aid
allotted to the construction, reconstruction, or maintenance of trunk highways shall be paid to the
commissioner of finance and credited to the trunk highway fund.
    Subd. 5. Repayment of money borrowed. When there is sufficient money in the trunk
highway fund, the commissioner of finance shall transfer therefrom to such other public fund the
amount of the loan together with interest thereon.
History: 1959 c 500 art 2 s 5; 1973 c 492 s 14; 2003 c 112 art 2 s 21,50