Subdivision 1. Capital loan obligations. If a district has a capital loan outstanding at the time of reorganization according to section 123A.46, 123A.48, or sections 123A.35 to 123A.43, and if the plan for reorganization provides for payment of all or a portion of the capital loan obligation by the newly created or enlarged district or makes no provision for payment, all of the taxable property in the newly created or enlarged district is taxable for the payment to the extent stated in the plan. Notwithstanding any contract to the contrary, if all of the taxable property in the newly created or enlarged district is taxable for the payment of the capital loan and until the capital loan is retired or canceled, the maximum effort debt service levy must be recalculated annually by the department to be equal to the required debt service levy plus an additional amount. The additional amount must be the greater of:
(i) zero, or
(ii) the maximum effort debt service levy of the preexisting district minus the required debt service levy of the preexisting district that received the capital loan.
For the purpose of the recalculation, additional bond issues after the date of the reorganization shall not impact the maximum effort debt service levy or the required debt service levy.
Notwithstanding any contract to the contrary, the plan for reorganization may specify that the obligation for a capital loan remains solely with the preexisting district that incurred the obligation. This subdivision does not relieve any property from any tax liability for payment of any capital loan obligation.
Subd. 2. Energy loan obligations. If a district has an energy loan outstanding at the time of reorganization according to section 123A.46, 123A.48, or sections 123A.35 to 123A.43, and if the plan for reorganization provides for payment of all or a portion of the energy loan obligation by the newly created or enlarged district or makes no provision for payment, all of the taxable property in the newly created or enlarged district is taxable for the payment.
Notwithstanding any contract to the contrary, the plan for reorganization may specify that the obligation for an energy loan remains solely with the preexisting district that incurred the obligation. This subdivision does not relieve any property from any tax liability for payment of any energy loan obligation.
1991 c 265 art 6 s 17; 1Sp1995 c 3 art 16 s 13; 1998 c 397 art 5 s 61,104; art 11 s 3
Structure Minnesota Statutes
Chapters 120 - 129C — Education Code: Prekindergarten - Grade 12
Chapter 123A — School Districts; Forms For Organizing
Section 123A.01 — Definitions.
Section 123A.05 — State-approved Alternative Program Organization.
Section 123A.06 — State-approved Alternative Programs And Services.
Section 123A.07 — Resource Center For Other Programs.
Section 123A.08 — State-approved Alternative Program Funding.
Section 123A.09 — Designating And Approving A Center.
Section 123A.12 — Agreement Regarding Administrative Services.
Section 123A.15 — Establishing Education Districts.
Section 123A.16 — Education District Board.
Section 123A.17 — Powers And Duties Of An Education District Board.
Section 123A.18 — Education District Agreement.
Section 123A.19 — Teaching Positions.
Section 123A.21 — Service Cooperatives.
Section 123A.215 — Innovative Technology Cooperative.
Section 123A.22 — Cooperative Centers For Vocational Education.
Section 123A.23 — Regional Management Information Centers.
Section 123A.24 — Withdrawing From Cooperative Unit; Appealing Denial Of Membership.
Section 123A.245 — Cooperative Units; Eligibility For Grants.
Section 123A.25 — Cooperative Unit; Insurance Pools.
Section 123A.26 — Cooperative Units; Prohibited Aid And Levies.
Section 123A.27 — Reserved Revenue For District Cooperation.
Section 123A.30 — Agreements For Secondary Education.
Section 123A.32 — Interdistrict Cooperation.
Section 123A.33 — Employees Of Cooperative Districts Upon Dissolution Or Withdrawal.
Section 123A.35 — Cooperation And Combination.
Section 123A.36 — Cooperation And Combination Plan.
Section 123A.37 — Commissioner And Voter Approval.
Section 123A.38 — Effective Date Of Combination.
Section 123A.39 — Employees Of Cooperating And Combining Districts.
Section 123A.40 — County Auditor Plat.
Section 123A.41 — Levies For Districts At Time Of Combination.
Section 123A.43 — Reports To Department Of Education.
Section 123A.441 — Policy And Purpose.
Section 123A.442 — Approval Authority; Application Forms.
Section 123A.443 — Grant Application Process.
Section 123A.444 — Levy For Severance Pay.
Section 123A.445 — Transportation.
Section 123A.45 — Detachment And Annexation Of Land.
Section 123A.455 — Realigning Split Residential Parcels.
Section 123A.46 — Dissolution And Attachment.
Section 123A.48 — Consolidation.
Section 123A.482 — Joint Powers Cooperative Facility.
Section 123A.485 — Consolidation Transition Revenue.
Section 123A.488 — Consolidation; Instruction By Nonresidential District.
Section 123A.55 — Classes, Number.
Section 123A.56 — Assignment Of Identification Numbers.
Section 123A.58 — Common District To Independent District.
Section 123A.60 — Remaining Districts, Action Of County Board; Election.
Section 123A.61 — Private Schools In Nonoperating Districts.
Section 123A.62 — Border Districts; Continued Operation; Franconia.
Section 123A.64 — Duty To Maintain Elementary And Secondary Schools.
Section 123A.65 — Phase Out Of Dissolved District.
Section 123A.66 — Procedure For Attachment To Organized Districts.
Section 123A.67 — Allocation Of Assets And Liabilities; Levy.
Section 123A.68 — Officers And Teachers, Transitional Provisions.
Section 123A.69 — Special School Districts, Application; Minneapolis And South St. Paul.
Section 123A.70 — Private Schools; Prinsburg.
Section 123A.72 — Severability.
Section 123A.73 — Levy Limitations Of Reorganized Districts.
Section 123A.74 — Obligations Upon District Reorganization.
Section 123A.75 — Employees Of Reorganized Districts.
Section 123A.76 — Expenses Of Transition.
Section 123A.77 — Surplus County School Tax Funds; Distribution.