as introduced - 88th Legislature (2013 - 2014) Posted on 03/06/2014 04:36pm
A bill for an act
relating to capital investment; limiting use of borrowed funds for capital
investment projects; amending Minnesota Statutes 2012, section 16A.641, by
adding a subdivision.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA:
Minnesota Statutes 2012, section 16A.641, is amended by adding a
subdivision to read:
new text begin
No more than 90 percent of the state
share of funding for a capital program, project, or project phase may be funded through
the sale of bonds or any other borrowed funds.
new text end