Section 1. Uses of revenue. Prohibits a school board from using operating capital levy funds to increase the district’s net instructional space within five years of the board’s final decision to close a schoolhouse. Provides an exception to districts that receive approval from a majority of voters at a public referendum.
Section 2. Referendum required after schoolhouse closure. Prohibits a school board from using lease levy funds to increase the district’s net instructional space within five years of the board’s final decision to close a schoolhouse. Provides an exception to districts that receive approval from a majority of voters at a public referendum.
Section 3. Definitions. Modifies the state’s ability to make payments on a school district’s defaulted debt obligation for a project that required review and comment under Minnesota Statutes, section 123B.71. The state may only make debt payments under section 126C.55 if the funds were used in a manner consistent with the project proposal submitted for review and comment.
Section 4. Proper use of bond proceeds. Establishes that proceeds from debt obligations must be spent in a manner that aligns with the project proposal submitted for review and comment under section 123B.71.
Effective date. All sections effective July 1, 2017.
JL/syl
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