Section 41B.22 — Construction.
41B.22 CONSTRUCTION. Sections 41B.01 to 41B.23 are necessary for the welfare of the state of Minnesota and its inhabitants; therefore, they shall be liberally construed to effect their purpose. History: 1986 c 398 art 6 s 22
Section 41B.23 — Severability; Actions.
41B.23 SEVERABILITY; ACTIONS. Each of the provisions of sections 41B.01 to 41B.23, and each application thereof to particular circumstances, is severable. If any provision or application is found to be unconstitutional and void, it is the intention that the remaining provisions and applications shall be valid and enforceable to the full extent possible under section […]
Section 41C.01 — Short Title.
41C.01 SHORT TITLE. This chapter shall be called and may be cited as the “Minnesota Agricultural Development Act.” History: 1991 c 332 s 6
Section 41C.02 — Definitions.
41C.02 DEFINITIONS. Subdivision 1. Scope. The definitions in this section apply to this chapter. Subd. 2. Agricultural business enterprise. “Agricultural business enterprise” means a small business, as defined in section 645.445, subdivision 2, which owns or plans to own properties, real or personal, used or useful in connection with the general processing of agricultural products […]
Section 41B.18 — Revenue Bond Fund; Reports.
41B.18 REVENUE BOND FUND; REPORTS. Subdivision 1. Authority. The authority may create and establish a special fund or funds for the security of one or more or all series of its bonds, which funds are known as debt service reserve funds. The authority may pay into each debt service reserve fund: (1) any money appropriated […]
Section 41B.08 — Revenue Bonds; Purposes, Terms, Approval.
41B.08 REVENUE BONDS; PURPOSES, TERMS, APPROVAL. Subdivision 1. Bonds for program. The authority from time to time may issue its negotiable bonds in a principal amount which, in the opinion of the authority, is necessary to provide sufficient funds for achieving its purposes including the making of qualified agricultural loans or the purchase of interests […]
Section 41B.09 — Revenue Bonds; Resolutions Authorizing, Additional Terms, Sale.
41B.09 REVENUE BONDS; RESOLUTIONS AUTHORIZING, ADDITIONAL TERMS, SALE. The bonds of the authority must be authorized by a resolution or resolutions adopted by the authority, bear such date or dates, mature at such time or times, bear interest at such rate or rates, be in such denominations, be in such form, carry such registration privileges, […]
Section 41B.10 — Revenue Bonds; Optional Resolution And Contract Provisions.
41B.10 REVENUE BONDS; OPTIONAL RESOLUTION AND CONTRACT PROVISIONS. Any resolution authorizing any bonds or any issue of bonds may contain provisions, which must be a part of the contract with the holders of the bonds, as to the matters referred to in this section. (a) It may pledge or create a lien on all or […]
Section 41B.11 — Pledges.
41B.11 PLEDGES. Any pledge made by the authority is valid and binding from the time the pledge is made. The money or property pledged and later received by the authority is immediately subject to the lien of the pledge without any physical delivery of the property or money or further act, and the lien of […]
Section 41B.12 — Revenue Bonds; Nonliability Of Individuals.
41B.12 REVENUE BONDS; NONLIABILITY OF INDIVIDUALS. The members of the authority and its staff and any person executing the bonds are not personally liable on the bonds or subject to any personal liability or accountability by reason of their issuance. History: 1986 c 398 art 6 s 12; 1987 c 396 art 1 s 26