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
Section 41B.13 — Revenue Bonds; Purchase And Cancellation By Authority.
41B.13 REVENUE BONDS; PURCHASE AND CANCELLATION BY AUTHORITY. The authority, subject to agreements with bondholders which may then exist, has power out of any funds available for the purpose to purchase bonds of the authority at a price not exceeding (a) if the bonds are then redeemable, the redemption price then applicable plus accrued interest […]
Section 41B.14 — Revenue Bonds; Nonliability Of State.
41B.14 REVENUE BONDS; NONLIABILITY OF STATE. The state of Minnesota is not liable on bonds of the authority issued under sections 41B.08 and 41B.044 and those bonds are not a debt of the state. The bonds must contain on their face a statement to that effect. History: 1986 c 398 art 6 s 14; 1987 […]
Section 41B.046 — Value-added Agricultural Product Loan Program.
41B.046 VALUE-ADDED AGRICULTURAL PRODUCT LOAN PROGRAM. Subdivision 1. Definitions. For purposes of this section: (1) “Agricultural commodity” has the meaning given in section 17.90. (2) “Agricultural product processing facility” means land, buildings, structures, fixtures, and improvements located or to be located in Minnesota and used or operated primarily for the processing or production of marketable […]
Section 41B.047 — Disaster Recovery Loan Program.
41B.047 DISASTER RECOVERY LOAN PROGRAM. Subdivision 1. Establishment. The authority shall establish and implement a disaster recovery loan program to help farmers: (1) clean up, repair, or replace farm structures and septic and water systems, as well as replace seed, other crop inputs, feed, and livestock; (2) purchase watering systems, irrigation systems, and other drought […]
Section 41B.048 — Agroforestry Loan Program.
41B.048 AGROFORESTRY LOAN PROGRAM. Subdivision 1. Purpose. The purpose of the agroforestry loan program is to provide low-interest financing to farmers during the growing period required to convert agricultural land to agroforestry. Subd. 2. Establishment. The authority shall establish and implement an agroforestry loan program to help finance the production of short rotation woody crops. […]
Section 41B.049 — Methane Digester Loan Program.
41B.049 METHANE DIGESTER LOAN PROGRAM. Subdivision 1. Establishment. The authority shall establish and implement a methane digester loan program to help finance the purchase of necessary equipment and the construction or improvement of a system that utilizes manure to produce electricity. Subd. 2. Deposit of repayments. All repayments of financial assistance granted under subdivision 1, […]
Section 41B.055 — Livestock Equipment Loan Program.
41B.055 LIVESTOCK EQUIPMENT LOAN PROGRAM. Subdivision 1. Establishment. The authority must establish and implement a livestock equipment loan program to help finance the purchase of livestock-related equipment and make livestock facilities improvements. Subd. 2. Eligibility. Notwithstanding section 41B.03, to be eligible for this program a borrower must: (1) be a resident of Minnesota or general […]