(a) The gross total income derived from the sale of bonds, and receipts and income derived from charges or fees, rentals, and all other revenue established for the use and service of any buildings or structures shall, within three days after their receipt, be paid to and held by the treasurer of the board as a special fund known as, "The Board of Trustees of the Minnesota State Colleges and Universities Revenue Fund." The treasurer shall be custodian of the special fund, which fund shall be held and disbursed for the purposes provided in sections 136F.90 to 136F.98. The special fund shall be protected by a corporate surety bond executed by the treasurer of the board with a surety authorized to do business under the laws of the state of Minnesota. The amount of the bond shall be fixed by resolution of the board or its successor and may be increased or diminished at any time. The premiums of the bonds shall be payable from "The Board of Trustees of the Minnesota State Colleges and Universities Revenue Fund" and charged as an item of maintenance expense.
(b) A certified copy of each resolution providing for the issuance of bonds under sections 136F.90 to 136F.98 shall be filed with the treasurer of the board, and it shall be the duty of the treasurer to keep and maintain separate accounts in the special fund for each bond issue in accordance with the covenants and the directions set out in the resolution providing for the issuance of the bonds and to disburse funds from the proper account for the payment of the principal of and interest on the bonds in accordance with the directions and covenants of the resolution authorizing the issue. All disbursements for maintenance and operation costs shall be made from the proper maintenance and operation account by order of the board or its successor in accordance with the covenants set out in the resolution authorizing the issuance of bonds. All disbursements for construction costs shall be made from a separate account in the special fund by order of the board or its successor in accordance with the covenants set out in the resolution authorizing the bonds.
1955 c 715 s 5; 1957 c 576 s 1,2; 1975 c 321 s 2; 1986 c 444; 1994 c 532 art 6 s 5,12; 1995 c 212 art 4 s 58,64,65; 1996 c 305 art 1 s 130,131; 2014 c 149 s 66
Structure Minnesota Statutes
Chapters 135A - 137 — Postsecondary Education
Chapter 136F — Minnesota State Colleges And Universities
Section 136F.01 — Definitions.
Section 136F.02 — Board Of Trustees.
Section 136F.03 — Candidate Advisory Council.
Section 136F.04 — Student Board Member Selection.
Section 136F.045 — Labor Organization Board Member Selection Process.
Section 136F.06 — Powers And Duties.
Section 136F.10 — Designation.
Section 136F.12 — Fond Du Lac Campus.
Section 136F.14 — Campus Merger Or Reorganization.
Section 136F.16 — Campus Establishment.
Section 136F.18 — Campus Closing.
Section 136F.19 — Power Of You Program.
Section 136F.20 — Student Health.
Section 136F.202 — Student Success Basic Needs Barrier Reduction.
Section 136F.22 — Student Associations.
Section 136F.23 — Student Associations; Purchasing Authority.
Section 136F.24 — Legal Counseling And Service Program; Funding.
Section 136F.25 — Absence For Chemical Abuse Treatment.
Section 136F.28 — Southwest Asia Veterans; Technical Colleges.
Section 136F.30 — Courses And Programs.
Section 136F.301 — Maximum Credit For Graduation; Waiver Reporting.
Section 136F.302 — Regulating The Assignment Of Students To Remedial Courses.
Section 136F.303 — Degree And Certificate Completion; Report.
Section 136F.31 — Centers Of Excellence.
Section 136F.32 — Degrees; Diplomas; Certificates.
Section 136F.36 — Technical College Carpentry Program Construction Authority.
Section 136F.361 — Career And Technical Education Certification And Licensure.
Section 136F.37 — Job Placement Impact On Program Review; Information To Students.
Section 136F.38 — Workforce Development Scholarships.
Section 136F.40 — Appointment Of Personnel.
Section 136F.41 — Assignment To Bargaining Units.
Section 136F.42 — Personnel Management.
Section 136F.43 — Extended Leaves Of Absence.
Section 136F.44 — Administrative Interaction With Students.
Section 136F.46 — Nonprofit Foundation Payroll Deduction.
Section 136F.47 — Pension Plan.
Section 136F.48 — Employer-paid Health Insurance.
Section 136F.481 — Early Separation Incentive Program.
Section 136F.50 — Cooperation Or Promotion Of A State College Or University.
Section 136F.52 — Local Advisory Committees.
Section 136F.53 — Parking And Traffic Regulation.
Section 136F.54 — Student Housing Management.
Section 136F.58 — Bookstores; Course Material Acquisition.
Section 136F.581 — Purchases And Contracts.
Section 136F.59 — Technical Equipment.
Section 136F.595 — Statewide Electronic Infrastructure; Portfolio Solutions.
Section 136F.60 — College And University Sites; Acquisition.
Section 136F.61 — State Building Code.
Section 136F.64 — Construction, Improvement, And Repair Of Facilities.
Section 136F.65 — Acceptance Of Federal Money.
Section 136F.66 — Capital Projects Bidding Procedures.
Section 136F.67 — Financing Of Child Care; Parking.
Section 136F.68 — State Property Agreements.
Section 136F.70 — Tuition; Fees; Activities Funds.
Section 136F.701 — Refund Of Tuition.
Section 136F.705 — Undergraduate Tuition Guarantee Plan.
Section 136F.73 — Cash Over And Short Account Of Imprest Cash Fund.
Section 136F.74 — Carryover Authority.
Section 136F.76 — Litigation Awards.
Section 136F.77 — Equity Investments.
Section 136F.79 — Sole State Agency.
Section 136F.80 — Grants; Gifts; Bequests; Devises; Endowments.
Section 136F.81 — Transfer Of Gifts.
Section 136F.90 — Board Of Trustees Duties.
Section 136F.91 — Bonds, Investments.
Section 136F.92 — Resolution Of Board.
Section 136F.93 — Student Activities, Fees Charged.
Section 136F.94 — Special Revenue Fund.
Section 136F.95 — Allocation Of Receipts.
Section 136F.96 — Administration.
Section 136F.97 — Contracts Of Board, Performance Compelled.