1.1                          A bill for an act 
  1.2             relating to education finance; authorizing a 
  1.3             cooperative facilities grant for the Swanville and 
  1.4             Upsala school districts; increasing the maximum grant 
  1.5             amount; authorizing the sale of bonds; appropriating 
  1.6             money; amending Minnesota Statutes 2000, section 
  1.7             123A.443, subdivision 1.  
  1.8   BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA: 
  1.9      Section 1.  Minnesota Statutes 2000, section 123A.443, 
  1.10  subdivision 1, is amended to read: 
  1.11     Subdivision 1.  [QUALIFICATION.] Any group of districts 
  1.12  that meets the criteria required under subdivision 2 may apply 
  1.13  for an incentive grant for construction of a new secondary 
  1.14  facility or for remodeling and improving an existing secondary 
  1.15  facility.  A grant for new construction must not exceed the 
  1.16  lesser of ~~$5,000,000~~ $12,000,000 or 75 percent of the approved 
  1.17  construction costs of a cooperative secondary education 
  1.18  facility.  A grant for remodeling and improving an existing 
  1.19  facility must not exceed $200,000. 
  1.20     Sec. 2.  [GRANT APPROVAL; SWANVILLE-UPSALA.] 
  1.21     A cooperative secondary facilities grant of $11,500,000 is 
  1.22  approved for independent school district Nos. 486, Swanville, 
  1.23  and 487, Upsala. 
  1.24     Sec. 3.  [BOND SALE; APPROPRIATION.] 
  1.25     Subdivision 1.  [BOND SALE.] To provide the money 
  1.26  appropriated under this section from the bond proceeds fund, the 
  2.1   commissioner of finance shall sell and issue bonds of the state 
  2.2   in an amount up to $11,500,000 in the manner, upon the terms, 
  2.3   and with the effect prescribed by Minnesota Statutes, sections 
  2.4   16A.631 to 16A.675, and by the Minnesota Constitution, article 
  2.5   XI, sections 4 to 7. 
  2.6      Subd. 2.  [APPROPRIATION.] $11,500,000 is appropriated from 
  2.7   the bond proceeds fund to the department of children, families, 
  2.8   and learning for a cooperative secondary facilities grant to 
  2.9   independent school district Nos. 486, Swanville, and 487, Upsala.