1.1                          A bill for an act 
  1.2             relating to education; providing for a certain debt 
  1.3             service levy rate for independent school district No. 
  1.4             728, Elk River.  
  1.5   BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA: 
  1.6      Section 1.  [DEBT SERVICE LOAN; ELK RIVER.] 
  1.7      For the purposes of debt service loans under sections 
  1.8   124.36 to 124.46, the maximum effort debt service levy for 
  1.9   independent school district No. 728, Elk River, shall be 
  1.10  computed at a rate of 20 percent of the adjusted net tax 
  1.11  capacity for taxes payable in 1999 and thereafter.  This rate is 
  1.12  not adjusted by Laws 1997, First Special Session chapter 4, 
  1.13  article 1, section 61. 
  1.14     Sec. 2.  [EFFECTIVE DATE.] 
  1.15     Section 1 is effective retroactive for taxes payable in 
  1.16  1999.