The board of a school district or intermediate school district may authorize and effect such borrowing, and may issue such certificates of indebtedness upon passage of a resolution specifying the amount and purposes for which it deems such borrowing is necessary. The resolution must be adopted by a vote of at least two-thirds of its members. The board must fix the amount, date, maturity, form, denomination, and other details of the certificates of indebtedness, not inconsistent with this chapter. The board must fix the date and place for receipt of bids for the purchase of the certificates when bids are required and direct the clerk to give notice of the date and place for bidding.
1963 c 371 s 4; 1978 c 764 s 73; 1998 c 397 art 7 s 85,164; 2008 c 363 art 2 s 29
Structure Minnesota Statutes
Chapters 120 - 129C — Education Code: Prekindergarten - Grade 12
Chapter 126C — Education Funding
Section 126C.01 — Definitions.
Section 126C.05 — Definition Of Pupil Units.
Section 126C.10 — General Education Revenue.
Section 126C.12 — Learning And Development Revenue Amount And Use.
Section 126C.126 — Use Of General Education Revenue For All-day Kindergarten And Prekindergarten.
Section 126C.13 — General Education Aid.
Section 126C.15 — Basic Skills Revenue; Compensatory Education Revenue.
Section 126C.17 — Referendum Revenue.
Section 126C.19 — Shared Time Aid.
Section 126C.20 — Annual General Education Aid Appropriation.
Section 126C.21 — Deductions From General Education Aid.
Section 126C.40 — Capital Levies.
Section 126C.41 — Benefits Levies.
Section 126C.43 — Levies; Statutory Obligations.
Section 126C.44 — Safe Schools Levy.
Section 126C.445 — Tree Growth Replacement Revenue.
Section 126C.45 — Ice Arena Levy.
Section 126C.455 — Swimming Pool Levy.
Section 126C.46 — Abatement Levy.
Section 126C.48 — Levy Procedure.
Section 126C.50 — Tax And Aid Anticipation Borrowing; Definitions.
Section 126C.51 — Application Of Limiting Tax Legislation.
Section 126C.52 — Authority To Borrow Money; Limitations.
Section 126C.53 — Enabling Resolution; Form Of Certificates Of Indebtedness.
Section 126C.54 — Repayment; Maturity Date Of Certificates; Interest.
Section 126C.56 — Sale Of Certificates; Disbursement Of Proceeds.
Section 126C.60 — Loans To Distressed Districts.
Section 126C.61 — Citation, Maximum Effort School Aid Law.
Section 126C.62 — Policy And Purpose.
Section 126C.63 — Definitions.
Section 126C.64 — Net Debt; Determination.
Section 126C.65 — Fund Established; Division Into Accounts.
Section 126C.66 — Appropriation.
Section 126C.67 — School Loans.
Section 126C.69 — Capital Grants And Loans.
Section 126C.70 — Prepayments.