Section 118A.03 — When And What Collateral Required.
118A.03 WHEN AND WHAT COLLATERAL REQUIRED. Subdivision 1. For deposits beyond insurance. To the extent that funds on deposit at the close of the financial institution’s banking day exceed available federal deposit insurance, the government entity shall require the financial institution to furnish collateral security or a corporate surety bond executed by a company authorized […]
Section 118A.04 — Investments.
118A.04 INVESTMENTS. Subdivision 1. What may be invested. Any public funds, not presently needed for other purposes or restricted for other purposes, may be invested in the manner and subject to the conditions provided for in this section. Subd. 2. United States securities. Public funds may be invested in governmental bonds, notes, bills, mortgages (excluding […]
Section 118A.05 — Contracts And Agreements.
118A.05 CONTRACTS AND AGREEMENTS. Subdivision 1. May enter into. In addition to other authority granted in sections 118A.01 to 118A.06, government entities may enter into contracts and agreements as follows. Subd. 2. Repurchase agreements. Repurchase agreements consisting of collateral allowable in section 118A.04, and reverse repurchase agreements may be entered into with any of the […]
Section 118A.06 — Safekeeping; Acknowledgements.
118A.06 SAFEKEEPING; ACKNOWLEDGEMENTS. (a) Investments, contracts, and agreements may be held in safekeeping with: (1) any Federal Reserve bank; (2) any bank authorized under the laws of the United States or any state to exercise corporate trust powers, including, but not limited to, the bank from which the investment is purchased; (3) a primary reporting […]
Section 118A.07 — Additional Investment Authority.
118A.07 ADDITIONAL INVESTMENT AUTHORITY. Subdivision 1. Authority provided. As used in this section, “governmental entity” means a city with a population in excess of 200,000, a county that contains a city of that size, or the Metropolitan Council. If a governmental entity meets the requirements of subdivisions 2 and 3, it may exercise additional investment […]
Section 118A.08 — No Superseding Effect.
118A.08 NO SUPERSEDING EFFECT. Except as provided in Laws 1996, chapter 399, article 1, section 11, sections 118A.01 to 118A.06 shall not supersede any general or special law relating to the deposit and investment of public funds. History: 1996 c 399 art 1 s 9
Section 118A.09 — Additional Long-term Equity Investment Authority.
118A.09 ADDITIONAL LONG-TERM EQUITY INVESTMENT AUTHORITY. Subdivision 1. Definition; qualifying government. “Qualifying government” means: (1) a county or statutory or home rule charter city with a population of more than 100,000; (2) a county or statutory or home rule charter city which had its most recently issued general obligation bonds rated in the highest category […]
Section 117.231 — Payment In Installments.
117.231 PAYMENT IN INSTALLMENTS. Subdivision 1. Option of property owner. Whenever private property is acquired for public purposes by purchase or eminent domain proceedings, the property owner shall have the option of receiving the purchase price or the award as finally adjudicated, either in a lump sum or in not more than four annual installments. […]
Section 117.56 — Inapplicability To Hazardous And Substandard Building Proceedings.
117.56 INAPPLICABILITY TO HAZARDOUS AND SUBSTANDARD BUILDING PROCEEDINGS. The provisions of sections 117.50 to 117.56 shall not apply to any proceedings brought by a governmental subdivision under sections 463.15 to 463.26. History: 1973 c 604 s 7
Section 117.232 — Direct Purchase.
117.232 DIRECT PURCHASE. Subdivision 1. Reimbursement for appraisal fees; moving costs. When acquisition of private property is accomplished by the state Department of Transportation by direct purchase the owner shall be entitled to reimbursement for appraisal fees, not to exceed a total of $1,500. When acquisition of private property is accomplished by any other acquiring […]