<div class="xtend">
         <div class="xtend_ce"><a id="pl.1.1"></a><var>1.1</var>A bill for an act<br />
            		
         </div><a id="pl.1.2"></a><var>1.2</var>relating to capital improvements; providing for a maximum effort capital loan to <br />
         		<a id="pl.1.3"></a><var>1.3</var>Independent School District No. 38, Red Lake; authorizing the sale and issuance <br />
         		<a id="pl.1.4"></a><var>1.4</var>of state bonds; appropriating money.<br />
         		<a id="pl.1.5"></a><var>1.5</var>BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA:<br />
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         		<a id="bill.0.1.0"></a><a id="pl.1.6"></a><var>1.6</var>&nbsp;&nbsp;&nbsp;&nbsp;Section 1. <b>MAXIMUM EFFORT SCHOOL LOAN, RED LAKE.</b><br />
         		<a id="pl.1.7"></a><var>1.7</var>Notwithstanding the procedural timelines in Minnesota Statutes, section 126C.69, <br />
         		<a id="pl.1.8"></a><var>1.8</var>$5,781,000 is appropriated from the maximum effort school loan fund for a capital loan <br />
         		<a id="pl.1.9"></a><var>1.9</var>to Independent School District No. 38, Red Lake, as provided in Minnesota Statutes, <br />
         		<a id="pl.1.10"></a><var>1.10</var>sections 126C.60 to 126C.72, to design, construct, renovate, furnish, and equip the middle <br />
         		<a id="pl.1.11"></a><var>1.11</var>and high school facilities at the Red Lake school district.<br />
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         		<a id="bill.0.2.0"></a><a id="pl.1.12"></a><var>1.12</var>&nbsp;&nbsp;&nbsp;&nbsp;Sec. 2. <b>BOND SALE.</b><br />
         		<a id="pl.1.13"></a><var>1.13</var>To provide the money appropriated in section 1 from the maximum effort school <br />
         		<a id="pl.1.14"></a><var>1.14</var>loan fund, the commissioner of finance shall sell and issue bonds of the state in an <br />
         		<a id="pl.1.15"></a><var>1.15</var>amount up to $5,781,000 in the manner, upon the terms, and with the effect prescribed by <br />
         		<a id="pl.1.16"></a><var>1.16</var>Minnesota Statutes, sections 16A.631 to 16A.675, and by the Minnesota Constitution, <br />
         		<a id="pl.1.17"></a><var>1.17</var>article XI, sections 4 to 7. The proceeds of the bonds, except accrued interest and any <br />
         		<a id="pl.1.18"></a><var>1.18</var>premium received on the sale of the bonds, must be credited to a bond proceeds account <br />
         		<a id="pl.1.19"></a><var>1.19</var>in the maximum effort school loan fund.<br />
         		<br />
         		<a id="bill.0.3.0"></a><a id="pl.1.20"></a><var>1.20</var>&nbsp;&nbsp;&nbsp;&nbsp;Sec. 3. <b>EFFECTIVE DATE.</b><br />
         		<a id="pl.1.21"></a><var>1.21</var>Sections 1 and 2 are effective the day following final enactment.<br />
         		
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