This bill modifies local government debt financing regulations in Minnesota by amending several sections of the Minnesota Statutes. Specifically, it allows school districts to issue general obligation bonds for approved facilities plans while clarifying that the amount of bonding authority under this section will not affect the calculation of bonding or net debt limits, except for a specific provision. Additionally, the bill changes the notice requirement for bond issues, reducing the notice period from 14 days to 10 days before the bond issue amount is certified.

Furthermore, the bill provides counties with the authority to issue bonds without an election and outlines the procedures for securing and selling these bonds. It also mandates that any project financed with such bonds must be included in a capital improvement plan. Lastly, the bill allows port authorities to set the details of bonds, including their maturity, without the requirement for them to mature serially, thus providing more flexibility in bond issuance.

Statutes affected:
Introduction: 123B.595, 297A.993, 469.060