Note: Documents on this page are PDF files and will open in a new window or tab.
This page contains legal information governing the proper use of state bond proceeds.
Minn. Stat. section 16A.695 ( GO Bonding Law ) specifies requirements that apply when property is purchased with state bond proceeds issued under article XI, section 5, clause (a), of the Minnesota Constitution. To implement the GO Bonding Law, the Commissioner of Management and Budget issued a Fourth Order Amending Order of the Commissioner of Finance Relating to Use and Sale of State Bond Financed Property dated July 30, 2012 ( Commissioner's Order ).
The uses of state trunk highway bond proceeds are governed by legal authority found in the Minnesota Constitution (Articles XI and XIV) and specific state bonding bills.
Bond Counsel Opinions
Tax Compliance Policies and Procedures
These policies and procedures were adopted by the Commissioner of Management and Budget to ensure compliance with requirements under the Internal Revenue Code related to the state's bonds. Among other things, they detail certain obligations relating to the use of state bond-financed property and record retention practices.