The rates of increase in school population in Minnesota and population shifts and economic changes in recent years, and anticipated in future years, have required and will require large expenditures for performing the duty of the state and its subdivisions to provide a general and uniform system of public schools. The state policy has been to require these school costs to be borne primarily by the local subdivisions. In most instances the local subdivisions have been, and will be, able to provide the required funds by local taxation as supplemented by the aids usually given to all districts from state income tax and other state aids. There are, however, exceptional cases due to local conditions not found in most other districts where, either temporarily or over a considerable period of years, the costs will exceed the maximum which the local taxpayers can be reasonably expected to bear. In some districts having bonds of several issues outstanding, debt service tax levy requirements are excessive for some years because of heavy bond principal payments accumulating in some of the years due to overlapping or short term issues. The policy and purpose of sections 126C.61 to 126C.72 is to utilize the credit of the state, to a limited degree, to relieve those school districts, but only those, where the maximum effort by the district is inadequate to provide the necessary money. It is also the purpose of sections 126C.61 to 126C.72 to promote efficient use of school buildings. To that end, a district that receives a maximum effort loan is encouraged to design and use its facility to integrate social services and library services.
Ex1959 c 27 s 2; 1993 c 224 art 5 s 12; 1994 c 465 art 2 s 1; 1998 c 397 art 7 s 44,164; art 11 s 3
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.