Section 446A.13 — Tender Option.
446A.13 TENDER OPTION. An obligation may be issued giving its owner the right to tender or the authority to demand tender of the obligation to the authority or another person designated by it, for purchase at a specified time or times, if the authority has first entered into an agreement with a suitable financial institution […]
Section 446A.14 — Interest Rate Swaps And Other Agreements.
446A.14 INTEREST RATE SWAPS AND OTHER AGREEMENTS. Subdivision 1. Agreements. (a) The authority may enter into interest rate exchange or swap agreements, hedges, forward purchase or sale agreements, loan sale or pooling agreements or trusts, or other similar agreements in connection with: (1) the issuance or proposed issuance of bonds; (2) the making, proposed making, […]
Section 446A.15 — Bond Fund.
446A.15 BOND FUND. Subdivision 1. Creation and contents. The authority may establish a special fund or funds for the security of one or more or all series of its bonds. The funds must be known as debt service reserve funds. The authority may pay into each debt service reserve fund: (1) any money appropriated by […]
Section 446A.16 — Money Of The Authority.
446A.16 MONEY OF THE AUTHORITY. Subdivision 1. Functions of commissioner of management and budget. Except as otherwise provided in this section, money of the authority must be paid to the commissioner of management and budget as agent of the authority and the commissioner shall not commingle the money with other money. The money in the […]
Section 446A.17 — Nonliability.
446A.17 NONLIABILITY. Subdivision 1. Nonliability of individuals. No member of the authority, staff of the authority, or other person executing the bonds, loans, interest rate swaps, or other agreements or contracts of the authority is liable personally on the bonds, loans, interest rate swaps, or other agreements or contracts of the authority or is subject […]
Section 446A.18 — Purchase And Cancellation By Authority.
446A.18 PURCHASE AND CANCELLATION BY AUTHORITY. Subject to agreements with bondholders that may then exist, the authority may purchase out of funds available for the purpose, bonds of the authority which shall then be canceled, at a price not exceeding the following amounts: (1) if the bonds are then redeemable, the redemption price then applicable […]
Section 446A.19 — State Pledge Against Impairment Of Contracts.
446A.19 STATE PLEDGE AGAINST IMPAIRMENT OF CONTRACTS. The state pledges and agrees with the holders of bonds issued under sections 446A.051, and 446A.12 to 446A.20 or other parties to any loans, interest rate swaps, or other agreements or contracts of the authority that the state will not limit or alter the rights vested in the […]
Section 446A.20 — Reserves; Funds; Accounts.
446A.20 RESERVES; FUNDS; ACCOUNTS. The authority may establish reserves, funds, or accounts necessary to carry out the purposes of the authority or to comply with any agreement made by or any resolution passed by the authority. History: 1988 c 546 s 13
Section 446A.083 — Methamphetamine Laboratory Cleanup Revolving Account.
446A.083 METHAMPHETAMINE LABORATORY CLEANUP REVOLVING ACCOUNT. Subdivision 1. Definitions. As used in this section: (1) “clandestine lab site” has the meaning given in section 152.0275, subdivision 1, paragraph (a); (2) “property” has the meaning given in section 152.0275, subdivision 2, paragraph (a), but does not include motor vehicles; and (3) “remediate” has the meaning given […]
Section 446A.085 — Transportation Revolving Loan Fund.
446A.085 TRANSPORTATION REVOLVING LOAN FUND. Subdivision 1. Definitions. (a) For the purposes of this section, the terms defined in this subdivision have the meanings given them. (b) “Act” means the National Highway System Designation Act of 1995, Public Law 104-59, as amended. (c) “Borrower” means the state, counties, cities, and other governmental entities eligible under […]