2002 Minnesota Statutes

     129D.155 Repayment of funds. 

    State funds distributed to public television or 
 noncommercial radio stations and used to purchase equipment 
 assets must be repaid to the state, without interest, if the 
 assets purchased with these funds are sold or otherwise 
 converted to a person other than a nonprofit or municipal 
 corporation.  The amount due to the state shall be the net 
 amount realized from the sale of the assets, but shall not 
 exceed the amount of state funds advanced for the purchase of 
 the asset.  Public television and noncommercial radio stations 
 receiving state funds must report biennially to the legislature 
 on the location and usage of assets purchased with state funds. 

    HIST: 1991 c 345 art 1 s 76