16A.631 BOND PROCEEDS FUND. The bond proceeds fund is established to receive the proceeds of state bonds issued under the constitution, article XI, section 5, clause (a). The commissioner shall establish in the fund accounts having titles that reflect the state purpose or program for which the bond proceeds are appropriated and authorized to be […]
16A.632 CAPITAL ASSET PRESERVATION AND REPLACEMENT ACCOUNT. Subdivision 1. Establishment. A capital asset preservation and replacement account is established in the state bond proceeds fund established by section 16A.631, separate from any other accounts maintained in that fund, to receive state bond proceeds appropriated to the commissioner of administration to be expended for the purpose […]
16A.633 CAPITAL FUNDING; MAINTAINING DATA AND REPORTING. Subdivision 1. State agencies. Each state agency shall provide to the commissioner of administration the data necessary for the commissioner to maintain the department’s database on the location, description, and condition of state-owned facilities. The data must be provided by September 1 each year. The commissioner of administration […]
16A.641 STATE BONDS; APPROPRIATIONS. Subdivision 1. Authority. When authorized by a law enacted in accordance with the constitution, article XI, sections 5 and 7, the commissioner shall sell and issue general obligation bonds of the state evidencing public debt incurred for any purpose stated in those sections. The full faith, credit, and taxing powers of […]
16A.642 STATE BONDS: REPORTS; CANCELLATIONS. Subdivision 1. Reports. (a) The commissioner of management and budget shall report to the chairs of the senate Committee on Finance and the house of representatives Committees on Ways and Means and Capital Investment by January 1 of each year on the following: (1) all laws authorizing the issuance of […]
16A.643 ASSESSMENTS IF AGENCY MUST PAY DEBT SERVICE. Subdivision 1. When payment required. The commissioner of management and budget shall assess each board, agency, or other public entity, other than the higher education systems described in Laws 1992, chapter 558, section 31, for the amount that would otherwise need to be paid for debt service […]
16A.645 GOPHER STATE BONDS. Subdivision 1. Establishment of program. The commissioner of management and budget, in consultation with the University of Minnesota, the Minnesota State Colleges and Universities, and the Private College Council, shall establish a college savings bond program, to be known as “gopher state bonds” to encourage individuals to save for higher education […]
16A.646 ZERO COUPON BONDS. Subdivision 1. Authority to issue. When authorized by law to issue state general obligation bonds, the commissioner may issue all or part of the bonds as serial maturity bonds or as zero coupon bonds or a combination of the two. Subd. 2. Definitions. (a) For purposes of this section and section […]
16A.647 TAX CREDIT AND INTEREST SUBSIDY BONDS. Subdivision 1. Authority to issue. When authorized by law to issue state general obligation bonds or state 911 revenue bonds under section 403.275, the commissioner may issue all or part of the bonds as tax credit bonds or as interest subsidy bonds or a combination of the two. […]
16A.66 REFUNDING BONDS. Subdivision 1. Authority; reduction of tax and appropriation for refunded bonds. The commissioner may, with the approval by resolution of the Executive Council, issue state bonds in accordance with section 16A.641 to refund any outstanding state bonds and interest on them. The proceeds of refunding bonds shall be credited to the account […]
16A.661 GENERAL OBLIGATION SPECIAL TAX BONDS. Subdivision 1. Authority. When authorized by law enacted in accordance with the constitution, article XI, sections 5 and 7, the commissioner may by order sell and issue general obligation special tax bonds of the state evidencing public debt incurred for any purpose stated in the law. The bonds are […]
16A.662 INFRASTRUCTURE DEVELOPMENT BONDS. Subdivision 1. Infrastructure development fund. The infrastructure development fund is created as an account in the state treasury. The commissioner of management and budget shall credit to the fund income from the sources provided by law. The commissioner of management and budget shall from time to time certify to the State […]
16A.671 CERTIFICATES OF INDEBTEDNESS. Subdivision 1. Authority; advisory recommendation. To ensure that cash is available when needed to make payments drawn on the general fund under appropriations and allotments, the commissioner may (1) issue certificates of indebtedness in anticipation of the collection of taxes levied for and other revenues appropriated to the general fund for […]
16A.672 BONDS AND CERTIFICATES OF INDEBTEDNESS. Subdivision 1. Authority. The commissioner may issue, execute, deliver, register, and pay bonds and certificates of indebtedness in the form and manner provided in this section, when authorized under section 16A.641 or 16A.671. Subd. 2. Application of commercial code. All bonds and certificates are securities under sections 336.8-101 to […]
16A.673 CERTIFICATES OF INDEBTEDNESS ISSUED BY STATE, NEGOTIABILITY. Certificates of indebtedness and interest coupons appurtenant thereto, heretofore or hereafter issued by the state of Minnesota in anticipation of the collection of taxes and payable as to principal and interest exclusively from the proceeds of such taxes, shall be negotiable instruments within the meaning and for […]
16A.675 PERSONS EXECUTING OBLIGATIONS NOT LIABLE. No officer or other person executing state bonds or certificates is liable personally on them or accountable by reason of issuing them. History: 1977 c 410 s 7; 1984 c 597 s 39; 1984 c 628 art 2 s 1; art 6 s 1
