Bonds issued under sections 447.45 to 447.50 must be issued and sold as provided in chapter 475. If the bonds do not pledge the credit of the county, city, or hospital district as provided in section 447.48, the governing body may negotiate their sale without advertisement for bids. They shall not be included in the net debt of any municipality, and are not subject to interest rate limitations, as defined or referred to in sections 475.51 and 475.55. If the bonds do not pledge the credit of the county, city, or hospital district as provided in section 447.48 and are payable from rental payments to be made under a lease agreement entered into pursuant to section 447.47, the county, city, or hospital district may invest or deposit, or authorize a trustee to invest or deposit, any proceeds of the bonds, rental payments, and income from the investment of them, in any manner and upon any terms and conditions agreed to by the lessee under the lease agreement, resolution, or indenture, notwithstanding chapter 118A, but subject to any statutory provisions that govern the deposit and investment of funds of a lessee which is itself a governmental subdivision or agency.
1971 c 844 s 5; 1973 c 123 art 5 s 7; 1983 c 213 s 13; 1987 c 229 art 10 s 1; 1991 c 342 s 9; 1996 c 399 art 2 s 5
Structure Minnesota Statutes
Chapters 447 - 450 — Municipal Welfare, Recreation
Chapter 447 — Hospitals, Welfare Activities
Section 447.04 — Charity Bureau.
Section 447.045 — Liquor Dispensary Fund, Community Hospital Appropriation.
Section 447.05 — Hospitals; Charter Cities Of The Third Or Fourth Class.
Section 447.06 — Acquisition Of Sites And Property.
Section 447.10 — Tax Levy For Operating And Maintaining Hospital.
Section 447.11 — Special Fund.
Section 447.13 — Power Granted Additional To Existing Powers.
Section 447.14 — Gifts For Free Medical Dispensaries, Public Libraries.
Section 447.15 — Administration Of Trust; Designation Of Trustees.
Section 447.31 — Creation And Reorganization Of Hospital Districts.
Section 447.32 — Officers And Elections.
Section 447.331 — Student Loan; Medical School, Health-field Program.
Section 447.34 — Payment Of Expenses; Taxation.
Section 447.345 — Temporary Borrowing Authority.
Section 447.36 — Annexation Of Territory.
Section 447.37 — Powers Supplementary.
Section 447.38 — Dissolution: Detachment Of Territory.
Section 447.41 — Establishment And Operation; Withdrawal.
Section 447.42 — Community House; Developmental Disabilities.
Section 447.45 — Bonds For Hospital, Nursing Home, Related Facilities.
Section 447.46 — Revenue Pledged.
Section 447.47 — Leasing Out Hospital, Nursing Home, Related Facilities.
Section 447.48 — Security For Bonds; Pledge Of Credit For Bonds.