Minnesota Statutes Education Code: Prekindergarten-Grade 12 (Ch. 120-129C) § 126C.66. Appropriation
Current as of January 01, 2018 | Updated by FindLaw Staff
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Subdivision 1. Appropriation. In addition to all sums which have been or may hereafter be appropriated by any law, the net proceeds of sale of any state school loan bonds authorized to be issued under section 126C.72, and all income received from the investment of said net proceeds is hereby appropriated to the school loan bond account in the state bond fund.
Subd. 2. Remaining money. Any amounts remaining in the fund on July 1, including any unused portion of the appropriation made in subdivision 1, must be available for use by the commissioner in making further debt service loans and capital loans.
Subd. 3. Principal interest payments. All payments of principal and interest on debt service notes or capital loan contracts, as received by the commissioner, are appropriated to the loan repayment account.
Cite this article: FindLaw.com - Minnesota Statutes Education Code: Prekindergarten-Grade 12 (Ch. 120-129C) § 126C.66. Appropriation - last updated January 01, 2018 | https://codes.findlaw.com/mn/education-code-prekindergarten-grade-12-ch-120-129c/mn-st-sect-126c-66.html
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