Subdivision 1. Establishment. The State Board of Investment, when requested by the city of Duluth, may invest the funds or assets of the city's community investment trust fund in a special account for that purpose in the combined investment funds established in section 11A.14, subject to the policies and procedures established by the State Board of Investment. Use of the funds in the account is restricted to debt service payments for the city's street improvement program or to any other use approved in accordance with Section 54(E) of the home rule charter of the city of Duluth.
Subd. 2. Account maintenance and investment. The city may deposit money in the account and may withdraw money from the account for purposes approved by the Duluth City Council in accordance with Section 54(E) of the home rule charter of the city of Duluth. Such transactions must be at a time and in a manner required by the executive director of the State Board of Investment. Investment earnings must be credited to the account of the city. The account may be terminated by the city at any time.
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Structure Minnesota Statutes
Chapters 10 - 12B — Government Miscellany
Chapter 11A — Investment Of State And Pension Assets
Section 11A.01 — Statement Of Purpose.
Section 11A.03 — State Board; Membership; Organization.
Section 11A.04 — Duties And Powers; Appropriation.
Section 11A.07 — Executive Director.
Section 11A.075 — Disclosure Of Expense Reimbursement.
Section 11A.08 — Investment Advisory Council.
Section 11A.09 — Standard Of Care.
Section 11A.10 — Duties Of Other Officials.
Section 11A.11 — Investment And Expense Appropriation.
Section 11A.12 — Gains And Losses; Disposition.
Section 11A.13 — Assets And Documentation.
Section 11A.14 — Minnesota Combined Investment Funds.
Section 11A.15 — State Bond Fund.
Section 11A.16 — Permanent School Fund.
Section 11A.17 — Minnesota Supplemental Investment Fund.
Section 11A.20 — Investment Of State Treasury Funds Not Currently Needed.
Section 11A.21 — Investment Of Highway Funds.
Section 11A.23 — Investment Of Retirement Funds And Plans.
Section 11A.235 — Account For Investment Of Certain Duluth Funds Or Assets.
Section 11A.24 — Authorized Investments.
Section 11A.241 — Investment In Northern Ireland.
Section 11A.244 — Investment In Iran.
Section 11A.245 — Investment In Russia And Belarus.
Section 11A.25 — Additional Investment Provisions.
Section 11A.27 — Report On Investment Consultant Activities And Deliverables.