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Laws of Minnesota 1965, Chapter 875 (HF1686)

Maximum effort school aid; additional funds for debt service and capital loans

An act relating to school district indebtedness, including bonds and debt service loans and capital loans from the maximum effort school loan fund of the state; revising the method of computation of the maximum effort debt service levy, the debt service loan limitation, and the net debt limitation for school districts; authorizing the issuance and sale of school loan bonds of the state and appropriating the proceeds thereof for the making of debt service loans and capital loans to school districts; authorizing capital loans, bond issues, and temporary borrowing for restoration of schools destroyed or damaged by tornado, flood, or other disaster.