Bill Text: MN HF1491 | 2013-2014 | 88th Legislature | Introduced
Bill Title: Intermediate school districts authorized to sell and issue facility bonds upon adoption of a resolution.
Spectrum: Slight Partisan Bill (Democrat 2-1)
Status: (Introduced - Dead) 2013-03-13 - Introduction and first reading, referred to Education Finance [HF1491 Detail]
Download: Minnesota-2013-HF1491-Introduced.html
1.2relating to education finance; authorizing intermediate school districts to sell and
1.3issue facility bonds under certain circumstances;amending Minnesota Statutes
1.42012, sections 136D.281; 136D.741; 136D.88.
1.5BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA:
1.6 Section 1. Minnesota Statutes 2012, section 136D.281, is amended to read:
1.7136D.281 BONDS.
1.8 Subdivision 1. Purpose. The intermediate school board, acting in its own behalf, may
1.9issue bonds for the acquisition and betterment of school facilities or equipment or for the
1.10funding or refunding of outstanding bonds, warrants, orders, or certificates of indebtedness.
1.11 Subd. 2. General law. Chapter 475 shall be applicable in all respects, except as
1.12separately provided in this section.
1.13 Subd. 3. Resolution. The purpose and the amount of any borrowing shall first be
1.14approved by resolution of the school board of the intermediate school district. If the
1.15resolution is for a bond issue authorized under subdivision 4, paragraph (c), the resolution
1.16must identify the manner in which the taxes will be spread upon taxpayers in the member
1.17districts. When the resolution has been adopted by the intermediate school board it shall
1.18be published once in a newspaper of general circulation in said district.
1.19 Subd. 4. Referendum. (a) Except as provided in paragraph (c), the intermediate
1.20school board shall not sell and issue bonds for acquisition or betterment purposes until
1.21the question of their issuance has been submitted to the voters of the intermediate school
1.22district at a special election held in and for the intermediate district. The date of the
1.23election, the question to be submitted, and all other necessary conduct of the election shall
1.24be fixed by the intermediate school board. The election shall be conducted and canvassed
2.1under the direction of the intermediate school board in accordance with chapter 205A,
2.2insofar as applicable.
2.3(b) If a majority of the total number of votes cast on the question within the
2.4intermediate school district is in favor of the question, the intermediate school board may
2.5proceed with the sale and issuance of the bonds.
2.6(c) Upon adoption of a resolution by the intermediate school district board
2.7comprised of duly elected board members from each member district, the intermediate
2.8school board may sell and issue bonds for any facility deferred maintenance purpose
2.9otherwise authorized in section 123B.59. Each district's resolution must pledge the full
2.10faith, credit, and unlimited taxing powers of that school district to the payment of all bonds
2.11and certificates of indebtedness.
2.12 Subd. 5. General obligation bonds. (a) For bonds and certificates of indebtedness
2.13approved under subdivision 4, paragraphs (a) and (b), the full faith, credit, and unlimited
2.14taxing powers of the intermediate school district shall be pledged to the payment of all
2.15bonds and certificates of indebtedness, and none of the obligations shall be included in the
2.16net debt of any participating school district as defined by section475.51, subdivision 4 ,
2.17or any other similar law.
2.18(b) For bonds and certificates of indebtedness approved under subdivision 4,
2.19paragraph (c), the full faith, credit, and unlimited taxing powers of the member school
2.20districts of the intermediate school district are pledged to the payment of all bonds and
2.21certificates of indebtedness, and none of the obligations shall be included in the net debt
2.22of the member school district as defined by section 475.51, subdivision 4, or any other
2.23similar law.
2.24 Subd. 6. Levies for payment. (a) The intermediate school board upon awarding
2.25a contract for the sale of the bonds authorized under subdivision 4, paragraphs (a) and
2.26(b), shall certify to the county auditor or county auditors the years and amounts of taxes
2.27required to be levied for the payment of the bonds as provided by section475.61 . The
2.28county auditor shall cause taxes to be spread in each year until bonds and interest have
2.29been paid upon all of the assessable, taxable valuation of the intermediate school district.
2.30(b) For bonds and certificates of indebtedness issued under subdivision 4, paragraph
2.31(c), each member school district shall include its share of the levy, as specified in
2.32subdivision 3, in its debt service levy under section 123B.55.
2.33 Subd. 7. Tax-exempt securities. In all other respects chapter 475 shall apply and
2.34the bonds shall be deemed authorized securities within the provisions of section50.14 and
2.35shall be deemed instruments of a public governmental agency.
3.1 Subd. 8.Expiration Authority limited. The intermediate school board may not
3.2issue bonds under this sectionafter between July 1, 1994, and July 1, 2013.
3.3EFFECTIVE DATE.This section is effective July 1, 2013.
3.4 Sec. 2. Minnesota Statutes 2012, section 136D.741, is amended to read:
3.5136D.741 BONDS.
3.6 Subdivision 1. Purpose. The intermediate school board, acting in its own behalf, may
3.7issue bonds for the acquisition and betterment of school facilities or equipment or for the
3.8funding or refunding of outstanding bonds, warrants, orders, or certificates of indebtedness.
3.9 Subd. 2. Chapter 475 applies. Chapter 475 shall be applicable in all respects,
3.10except as separately provided in this section.
3.11 Subd. 3. Resolution. The purpose and the amount of any borrowing shall first be
3.12approved by resolution of the school board of the intermediate school district. If the
3.13resolution is for a bond issue authorized under subdivision 4, paragraph (c), the resolution
3.14must identify the manner in which the taxes will be spread upon taxpayers in the member
3.15districts. When such resolution has been adopted by the intermediate school board it shall
3.16be published once in a newspaper of general circulation in said district.
3.17 Subd. 4. Referendum. (a) Except as provided in paragraph (c), the intermediate
3.18school board shall not sell and issue bonds for acquisition or betterment purposes until
3.19the question of their issuance has been submitted to the voters of the intermediate school
3.20district at a special election held in and for such intermediate district. The date of such
3.21election, the question to be submitted, and all other necessary conduct of such election
3.22shall be fixed by the intermediate school board and said election shall be conducted and
3.23canvassed under the direction of the intermediate school board in accordance with chapter
3.24205A, insofar as the same may be deemed applicable.
3.25(b) If a majority of the total number of votes cast on the question within the
3.26intermediate school district is in favor of the question, the intermediate school board may
3.27thereupon proceed with the sale and the issuance of said bonds.
3.28(c) Upon adoption of a resolution by the intermediate school district board
3.29comprised of duly elected board members from each member district, the intermediate
3.30school board may sell and issue bonds for any facility deferred maintenance purpose
3.31otherwise authorized in section 123B.59. Each district's resolution must pledge the full
3.32faith, credit, and unlimited taxing powers of that school district to the payment of all bonds
3.33and certificates of indebtedness.
4.1 Subd. 5. Payment. (a) For bonds and certificates of indebtedness approved under
4.2subdivision 4, paragraphs (a) and (b), the full faith, credit, and unlimited taxing powers
4.3of the intermediate school district shall be pledged to the payment of all bonds and
4.4certificates of indebtedness, and none of such obligations shall be included in the net debt
4.5of any participating school district as defined by section475.51, subdivision 4 , or any
4.6other law similar thereto.
4.7(b) For bonds and certificates of indebtedness approved under subdivision 4,
4.8paragraph (c), the full faith, credit, and unlimited taxing powers of the member school
4.9districts of the intermediate school district are pledged to the payment of all bonds and
4.10certificates of indebtedness, and none of the obligations shall be included in the net debt
4.11of the member school district as defined by section 475.51, subdivision 4, or any other
4.12similar law.
4.13 Subd. 6. Tax for. (a) The intermediate school board upon awarding a contract for
4.14the sale of such bonds authorized under subdivision 4, paragraphs (a) and (b), shall certify
4.15to the county auditor or county auditors the years and amounts of taxes required to be
4.16levied for the payment of such bonds as provided by section475.61 . The county auditor
4.17shall cause such taxes to be spread in each year until bonds and interest have been paid
4.18upon all of the assessable, taxable valuation of said intermediate school district.
4.19(b) For bonds and certificates of indebtedness issued under subdivision 4, paragraph
4.20(c), each member school district shall include its share of the levy, as specified in
4.21subdivision 3, in its debt service levy under section 123B.55.
4.22 Subd. 7. Tax-exempt securities. In all other respects chapter 475, shall apply and
4.23said bonds shall be deemed authorized securities within the provisions of section50.14 ,
4.24and shall be deemed instruments of a public governmental agency.
4.25 Subd. 8.Expiration Authority limited. The intermediate school board may not
4.26issue bonds under this sectionafter between July 1, 1994, and July 1, 2013.
4.27EFFECTIVE DATE.This section is effective July 1, 2013.
4.28 Sec. 3. Minnesota Statutes 2012, section 136D.88, is amended to read:
4.29136D.88 BONDS.
4.30 Subdivision 1. Purpose. The intermediate school board, acting in its own behalf, may
4.31issue bonds for the acquisition and betterment of school facilities or equipment or for the
4.32funding or refunding of outstanding bonds, warrants, orders, or certificates of indebtedness.
4.33 Subd. 2. General law. Chapter 475 shall be applicable in all respects, except as
4.34separately provided in this section.
5.1 Subd. 3. Resolution. The purpose and the amount of any borrowing shall first be
5.2approved by resolution of the school board of the intermediate school district. If the
5.3resolution is for a bond issue authorized under subdivision 4, paragraph (c), the resolution
5.4must identify the manner in which the taxes will be spread upon taxpayers in the member
5.5districts. When the resolution has been adopted by the intermediate school board it shall
5.6be published once in a newspaper of general circulation in the district.
5.7 Subd. 4. Referendum. (a) Except as provided in paragraph (c), the intermediate
5.8school board shall not sell and issue bonds for acquisition or betterment purposes until
5.9the question of their issuance has been submitted to the voters of the intermediate school
5.10district at a special election held in and for the intermediate district. The date of the
5.11election, the question to be submitted, and all other necessary conduct of the election shall
5.12be fixed by the intermediate school board. The election shall be conducted and canvassed
5.13under the direction of the intermediate school board in accordance with chapter 205A,
5.14insofar as applicable.
5.15(b) If a majority of the total number of votes cast on the question within the
5.16intermediate school district is in favor of the question, the intermediate school board may
5.17thereupon proceed with the sale and issuance of the bonds.
5.18(c) Upon adoption of a resolution by the intermediate school district board
5.19comprised of duly elected board members from each member district, the intermediate
5.20school board may sell and issue bonds for any facility deferred maintenance purpose
5.21otherwise authorized in section 123B.59. Each district's resolution must pledge the full
5.22faith, credit, and unlimited taxing powers of that school district to the payment of all bonds
5.23and certificates of indebtedness.
5.24 Subd. 5. General obligation bonds. (a) For bonds and certificates of indebtedness
5.25approved under subdivision 4, paragraphs (a) and (b), the full faith, credit, and unlimited
5.26taxing powers of the intermediate school district shall be pledged to the payment of all
5.27bonds and certificates of indebtedness, and none of the obligations shall be included in the
5.28net debt of any participating school district as defined by section475.51, subdivision 4 ,
5.29or any other similar law.
5.30(b) For bonds and certificates of indebtedness approved under subdivision 4,
5.31paragraph (c), the full faith, credit, and unlimited taxing powers of the member school
5.32districts of the intermediate school district are pledged to the payment of all bonds and
5.33certificates of indebtedness, and none of the obligations shall be included in the net debt
5.34of the member school district as defined by section 475.51, subdivision 4, or any other
5.35similar law.
6.1 Subd. 6. Levies for payment. (a) The intermediate school board upon awarding
6.2a contract for the sale of the bonds authorized under subdivision 4, paragraphs (a) and
6.3(b), shall certify to the county auditor or county auditors the years and amounts of taxes
6.4required to be levied for the payment of the bonds as provided by section475.61 . The
6.5county auditor shall cause taxes to be spread in each year until bonds and interest have
6.6been paid upon all of the assessable, taxable valuation of the intermediate school district.
6.7(b) For bonds and certificates of indebtedness issued under subdivision 4, paragraph
6.8(c), each member school district shall include its share of the levy, as specified in
6.9subdivision 3, in its debt service levy under section 123B.55.
6.10 Subd. 7. Tax-exempt securities. In all other respects chapter 475 shall apply and
6.11the bonds shall be deemed authorized securities within the provisions of section50.14 ,
6.12and shall be deemed instruments of a public governmental agency.
6.13 Subd. 8.Expiration Authority limited. The intermediate school board may not
6.14issue bonds under this sectionafter between July 1, 1994, and July 1, 2013.
6.15EFFECTIVE DATE.This section is effective July 1, 2013.
1.3issue facility bonds under certain circumstances;amending Minnesota Statutes
1.42012, sections 136D.281; 136D.741; 136D.88.
1.5BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA:
1.6 Section 1. Minnesota Statutes 2012, section 136D.281, is amended to read:
1.7136D.281 BONDS.
1.8 Subdivision 1. Purpose. The intermediate school board, acting in its own behalf, may
1.9issue bonds for the acquisition and betterment of school facilities or equipment or for the
1.10funding or refunding of outstanding bonds, warrants, orders, or certificates of indebtedness.
1.11 Subd. 2. General law. Chapter 475 shall be applicable in all respects, except as
1.12separately provided in this section.
1.13 Subd. 3. Resolution. The purpose and the amount of any borrowing shall first be
1.14approved by resolution of the school board of the intermediate school district. If the
1.15resolution is for a bond issue authorized under subdivision 4, paragraph (c), the resolution
1.16must identify the manner in which the taxes will be spread upon taxpayers in the member
1.17districts. When the resolution has been adopted by the intermediate school board it shall
1.18be published once in a newspaper of general circulation in said district.
1.19 Subd. 4. Referendum. (a) Except as provided in paragraph (c), the intermediate
1.20school board shall not sell and issue bonds for acquisition or betterment purposes until
1.21the question of their issuance has been submitted to the voters of the intermediate school
1.22district at a special election held in and for the intermediate district. The date of the
1.23election, the question to be submitted, and all other necessary conduct of the election shall
1.24be fixed by the intermediate school board. The election shall be conducted and canvassed
2.1under the direction of the intermediate school board in accordance with chapter 205A,
2.2insofar as applicable.
2.3(b) If a majority of the total number of votes cast on the question within the
2.4intermediate school district is in favor of the question, the intermediate school board may
2.5proceed with the sale and issuance of the bonds.
2.6(c) Upon adoption of a resolution by the intermediate school district board
2.7comprised of duly elected board members from each member district, the intermediate
2.8school board may sell and issue bonds for any facility deferred maintenance purpose
2.9otherwise authorized in section 123B.59. Each district's resolution must pledge the full
2.10faith, credit, and unlimited taxing powers of that school district to the payment of all bonds
2.11and certificates of indebtedness.
2.12 Subd. 5. General obligation bonds. (a) For bonds and certificates of indebtedness
2.13approved under subdivision 4, paragraphs (a) and (b), the full faith, credit, and unlimited
2.14taxing powers of the intermediate school district shall be pledged to the payment of all
2.15bonds and certificates of indebtedness, and none of the obligations shall be included in the
2.16net debt of any participating school district as defined by section
2.17or any other similar law.
2.18(b) For bonds and certificates of indebtedness approved under subdivision 4,
2.19paragraph (c), the full faith, credit, and unlimited taxing powers of the member school
2.20districts of the intermediate school district are pledged to the payment of all bonds and
2.21certificates of indebtedness, and none of the obligations shall be included in the net debt
2.22of the member school district as defined by section 475.51, subdivision 4, or any other
2.23similar law.
2.24 Subd. 6. Levies for payment. (a) The intermediate school board upon awarding
2.25a contract for the sale of the bonds authorized under subdivision 4, paragraphs (a) and
2.26(b), shall certify to the county auditor or county auditors the years and amounts of taxes
2.27required to be levied for the payment of the bonds as provided by section
2.28county auditor shall cause taxes to be spread in each year until bonds and interest have
2.29been paid upon all of the assessable, taxable valuation of the intermediate school district.
2.30(b) For bonds and certificates of indebtedness issued under subdivision 4, paragraph
2.31(c), each member school district shall include its share of the levy, as specified in
2.32subdivision 3, in its debt service levy under section 123B.55.
2.33 Subd. 7. Tax-exempt securities. In all other respects chapter 475 shall apply and
2.34the bonds shall be deemed authorized securities within the provisions of section
2.35shall be deemed instruments of a public governmental agency.
3.1 Subd. 8.
3.2issue bonds under this section
3.3EFFECTIVE DATE.This section is effective July 1, 2013.
3.4 Sec. 2. Minnesota Statutes 2012, section 136D.741, is amended to read:
3.5136D.741 BONDS.
3.6 Subdivision 1. Purpose. The intermediate school board, acting in its own behalf, may
3.7issue bonds for the acquisition and betterment of school facilities or equipment or for the
3.8funding or refunding of outstanding bonds, warrants, orders, or certificates of indebtedness.
3.9 Subd. 2. Chapter 475 applies. Chapter 475 shall be applicable in all respects,
3.10except as separately provided in this section.
3.11 Subd. 3. Resolution. The purpose and the amount of any borrowing shall first be
3.12approved by resolution of the school board of the intermediate school district. If the
3.13resolution is for a bond issue authorized under subdivision 4, paragraph (c), the resolution
3.14must identify the manner in which the taxes will be spread upon taxpayers in the member
3.15districts. When such resolution has been adopted by the intermediate school board it shall
3.16be published once in a newspaper of general circulation in said district.
3.17 Subd. 4. Referendum. (a) Except as provided in paragraph (c), the intermediate
3.18school board shall not sell and issue bonds for acquisition or betterment purposes until
3.19the question of their issuance has been submitted to the voters of the intermediate school
3.20district at a special election held in and for such intermediate district. The date of such
3.21election, the question to be submitted, and all other necessary conduct of such election
3.22shall be fixed by the intermediate school board and said election shall be conducted and
3.23canvassed under the direction of the intermediate school board in accordance with chapter
3.24205A, insofar as the same may be deemed applicable.
3.25(b) If a majority of the total number of votes cast on the question within the
3.26intermediate school district is in favor of the question, the intermediate school board may
3.27thereupon proceed with the sale and the issuance of said bonds.
3.28(c) Upon adoption of a resolution by the intermediate school district board
3.29comprised of duly elected board members from each member district, the intermediate
3.30school board may sell and issue bonds for any facility deferred maintenance purpose
3.31otherwise authorized in section 123B.59. Each district's resolution must pledge the full
3.32faith, credit, and unlimited taxing powers of that school district to the payment of all bonds
3.33and certificates of indebtedness.
4.1 Subd. 5. Payment. (a) For bonds and certificates of indebtedness approved under
4.2subdivision 4, paragraphs (a) and (b), the full faith, credit, and unlimited taxing powers
4.3of the intermediate school district shall be pledged to the payment of all bonds and
4.4certificates of indebtedness, and none of such obligations shall be included in the net debt
4.5of any participating school district as defined by section
4.6other law similar thereto.
4.7(b) For bonds and certificates of indebtedness approved under subdivision 4,
4.8paragraph (c), the full faith, credit, and unlimited taxing powers of the member school
4.9districts of the intermediate school district are pledged to the payment of all bonds and
4.10certificates of indebtedness, and none of the obligations shall be included in the net debt
4.11of the member school district as defined by section 475.51, subdivision 4, or any other
4.12similar law.
4.13 Subd. 6. Tax for. (a) The intermediate school board upon awarding a contract for
4.14the sale of such bonds authorized under subdivision 4, paragraphs (a) and (b), shall certify
4.15to the county auditor or county auditors the years and amounts of taxes required to be
4.16levied for the payment of such bonds as provided by section
4.17shall cause such taxes to be spread in each year until bonds and interest have been paid
4.18upon all of the assessable, taxable valuation of said intermediate school district.
4.19(b) For bonds and certificates of indebtedness issued under subdivision 4, paragraph
4.20(c), each member school district shall include its share of the levy, as specified in
4.21subdivision 3, in its debt service levy under section 123B.55.
4.22 Subd. 7. Tax-exempt securities. In all other respects chapter 475, shall apply and
4.23said bonds shall be deemed authorized securities within the provisions of section
4.24and shall be deemed instruments of a public governmental agency.
4.25 Subd. 8.
4.26issue bonds under this section
4.27EFFECTIVE DATE.This section is effective July 1, 2013.
4.28 Sec. 3. Minnesota Statutes 2012, section 136D.88, is amended to read:
4.29136D.88 BONDS.
4.30 Subdivision 1. Purpose. The intermediate school board, acting in its own behalf, may
4.31issue bonds for the acquisition and betterment of school facilities or equipment or for the
4.32funding or refunding of outstanding bonds, warrants, orders, or certificates of indebtedness.
4.33 Subd. 2. General law. Chapter 475 shall be applicable in all respects, except as
4.34separately provided in this section.
5.1 Subd. 3. Resolution. The purpose and the amount of any borrowing shall first be
5.2approved by resolution of the school board of the intermediate school district. If the
5.3resolution is for a bond issue authorized under subdivision 4, paragraph (c), the resolution
5.4must identify the manner in which the taxes will be spread upon taxpayers in the member
5.5districts. When the resolution has been adopted by the intermediate school board it shall
5.6be published once in a newspaper of general circulation in the district.
5.7 Subd. 4. Referendum. (a) Except as provided in paragraph (c), the intermediate
5.8school board shall not sell and issue bonds for acquisition or betterment purposes until
5.9the question of their issuance has been submitted to the voters of the intermediate school
5.10district at a special election held in and for the intermediate district. The date of the
5.11election, the question to be submitted, and all other necessary conduct of the election shall
5.12be fixed by the intermediate school board. The election shall be conducted and canvassed
5.13under the direction of the intermediate school board in accordance with chapter 205A,
5.14insofar as applicable.
5.15(b) If a majority of the total number of votes cast on the question within the
5.16intermediate school district is in favor of the question, the intermediate school board may
5.17thereupon proceed with the sale and issuance of the bonds.
5.18(c) Upon adoption of a resolution by the intermediate school district board
5.19comprised of duly elected board members from each member district, the intermediate
5.20school board may sell and issue bonds for any facility deferred maintenance purpose
5.21otherwise authorized in section 123B.59. Each district's resolution must pledge the full
5.22faith, credit, and unlimited taxing powers of that school district to the payment of all bonds
5.23and certificates of indebtedness.
5.24 Subd. 5. General obligation bonds. (a) For bonds and certificates of indebtedness
5.25approved under subdivision 4, paragraphs (a) and (b), the full faith, credit, and unlimited
5.26taxing powers of the intermediate school district shall be pledged to the payment of all
5.27bonds and certificates of indebtedness, and none of the obligations shall be included in the
5.28net debt of any participating school district as defined by section
5.29or any other similar law.
5.30(b) For bonds and certificates of indebtedness approved under subdivision 4,
5.31paragraph (c), the full faith, credit, and unlimited taxing powers of the member school
5.32districts of the intermediate school district are pledged to the payment of all bonds and
5.33certificates of indebtedness, and none of the obligations shall be included in the net debt
5.34of the member school district as defined by section 475.51, subdivision 4, or any other
5.35similar law.
6.1 Subd. 6. Levies for payment. (a) The intermediate school board upon awarding
6.2a contract for the sale of the bonds authorized under subdivision 4, paragraphs (a) and
6.3(b), shall certify to the county auditor or county auditors the years and amounts of taxes
6.4required to be levied for the payment of the bonds as provided by section
6.5county auditor shall cause taxes to be spread in each year until bonds and interest have
6.6been paid upon all of the assessable, taxable valuation of the intermediate school district.
6.7(b) For bonds and certificates of indebtedness issued under subdivision 4, paragraph
6.8(c), each member school district shall include its share of the levy, as specified in
6.9subdivision 3, in its debt service levy under section 123B.55.
6.10 Subd. 7. Tax-exempt securities. In all other respects chapter 475 shall apply and
6.11the bonds shall be deemed authorized securities within the provisions of section
6.12and shall be deemed instruments of a public governmental agency.
6.13 Subd. 8.
6.14issue bonds under this section
6.15EFFECTIVE DATE.This section is effective July 1, 2013.
