Section 137.022 — Permanent University Fund.
137.022 PERMANENT UNIVERSITY FUND. Subdivision 1. Investment. The investment management of the permanent university fund shall be under the jurisdiction of the Board of Regents of the University of Minnesota, subject to any limitations imposed by the Constitution of the state of Minnesota, article XI, section 9. All securities and cash held in the state […]
Section 137.0225 — University Promise Scholarship.
137.0225 UNIVERSITY PROMISE SCHOLARSHIP. The Board of Regents may establish a scholarship to help offset the impact of rising tuition for Minnesota students. To be eligible for a scholarship under this section, a student must be a Minnesota resident undergraduate from a family with an annual adjusted gross income not to exceed $100,000. History: 2009 […]
Section 136F.98 — Revenue Bonds, Issuance; Federal Tax.
136F.98 REVENUE BONDS, ISSUANCE; FEDERAL TAX. Subdivision 1. Issuance of bonds. The board or a successor may issue revenue bonds under sections 136F.90 to 136F.97 whose aggregate principal amount at any time may not exceed $405,000,000, and payable from the revenue appropriated to the fund established by section 136F.94, and use the proceeds together with […]
Section 136G.01 — Plan Established.
136G.01 PLAN ESTABLISHED. A college savings plan known as “the Minnesota college savings plan” or “the Minnesota 529 college savings plan” is established. In establishing this plan, the legislature seeks to encourage individuals to save for postsecondary education by: (1) providing a qualified tuition plan under federal tax law; and (2) encouraging individuals, foundations, and […]
Section 136G.03 — Definitions.
136G.03 DEFINITIONS. Subdivision 1. General. For purposes of sections 136G.01 to 136G.14, the following terms have the meanings given. Subd. 2. Account. “Account” means the formal record of transactions relating to a Minnesota college savings plan beneficiary. Subd. 3. Account owner. “Account owner” means a person who enters into a participation agreement and is entitled […]
Section 136F.91 — Bonds, Investments.
136F.91 BONDS, INVESTMENTS. The state, including the State Board of Investment, and all counties, cities, towns and other municipal corporations, political subdivisions and political bodies, and public officers of any of the public entities listed in this section, all banks, bankers, trust companies, savings banks, and institutions, savings associations, investment companies and other persons carrying […]
Section 136F.92 — Resolution Of Board.
136F.92 RESOLUTION OF BOARD. Upon the determination by the board or its successor to acquire, construct, complete, remodel, or equip any student residence halls, dormitories, dining halls, student union buildings, parking facilities, or other similar revenue-producing building or buildings, the board or its successor shall adopt a resolution describing generally the contemplated project, the estimated […]
Section 136F.93 — Student Activities, Fees Charged.
136F.93 STUDENT ACTIVITIES, FEES CHARGED. Whenever bonds are issued as provided in sections 136F.90 to 136F.98, it shall be the duty of the board to establish charges or fees, including without limitation fees for student activities and fees for student facilities, for the use of any buildings or structures sufficient at all times to pay […]
Section 136F.94 — Special Revenue Fund.
136F.94 SPECIAL REVENUE FUND. (a) The gross total income derived from the sale of bonds, and receipts and income derived from charges or fees, rentals, and all other revenue established for the use and service of any buildings or structures shall, within three days after their receipt, be paid to and held by the treasurer […]
Section 136F.95 — Allocation Of Receipts.
136F.95 ALLOCATION OF RECEIPTS. All moneys in the board revenue fund and all income from the operation of residence halls, dormitories, dining halls, student union buildings, parking facilities and other revenue producing buildings and structures are appropriated first to the payment of expenses of the operation of the facilities from which the revenues so appropriated […]