Minnesota Statutes 123B.025 – School Sponsorship and Advertising Revenue
Subdivision 1.Board authority; contracts.
A school board may enter into a contract with advertisers, sponsors, or others regarding advertising and naming rights to school facilities under the general charge of the district. A contract authorized under this section must be approved by the school board. The powers granted to a school board under this section are in addition to any other authority the school district may have.
Subd. 2.Authorized agreements.
Terms Used In Minnesota Statutes 123B.025
- Contract: A legal written agreement that becomes binding when signed.
- Lease: A contract transferring the use of property or occupancy of land, space, structures, or equipment in consideration of a payment (e.g., rent). Source: OCC
Terms Used In Minnesota Statutes 123B.025
- Contract: A legal written agreement that becomes binding when signed.
- Lease: A contract transferring the use of property or occupancy of land, space, structures, or equipment in consideration of a payment (e.g., rent). Source: OCC
A school district may enter into a contract to:
(1) lease the naming rights for school facilities, including school buildings, ice arenas, and stadiums;
(2) sell advertising on or in the facilities listed in clause (1); and
(3) otherwise enter into an agreement with a sponsoring agent.
Subd. 3.Revenue uses.
Revenue generated under this section must be used according to a plan specified by the school board.