Minnesota Statutes 126C.66 – Appropriation
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Subdivision 1.Appropriation.
In addition to all sums which have been or may hereafter be appropriated by any law, the net proceeds of sale of any state school loan bonds authorized to be issued under section 126C.72, and all income received from the investment of said net proceeds is hereby appropriated to the school loan bond account in the state bond fund.
Subd. 2.Remaining money.
Terms Used In Minnesota Statutes 126C.66
- Appropriation: The provision of funds, through an annual appropriations act or a permanent law, for federal agencies to make payments out of the Treasury for specified purposes. The formal federal spending process consists of two sequential steps: authorization
- state: extends to and includes the District of Columbia and the several territories. See Minnesota Statutes 645.44
Terms Used In Minnesota Statutes 126C.66
- Appropriation: The provision of funds, through an annual appropriations act or a permanent law, for federal agencies to make payments out of the Treasury for specified purposes. The formal federal spending process consists of two sequential steps: authorization
- state: extends to and includes the District of Columbia and the several territories. See Minnesota Statutes 645.44
Any amounts remaining in the fund on July 1, including any unused portion of the appropriation made in subdivision 1, must be available for use by the commissioner in making further debt service loans and capital loans.
Subd. 3.Payments.
All payments on capital loan contracts, as received by the commissioner, are appropriated to the loan repayment account.