Legal Information
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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
- General Obligation Bond Financing of a Proposed Fiber Optic Infrastructure Grant Program
(Partially superseded opinion below as to fiber optic cable installations.)
- MMB Guidance as to Permitted Uses of State Trunk Highway Bond Proceeds
- Expenditures Eligible for State General Obligation Bond Financing
- General Obligation Bond Financing of Technology Projects
- General Obligation Bond Financing of Certain Fiber Optic Cable Installations
- Use of Certain State General Obligation Bond Proceeds for Permanent Easement and Acquisition Improvement
- Use of General Obligation Bonds for Biomass Energy Projects
- Use of State Bond Proceeds Appropriated to Met Council for Regional Recreational Open Space
- Use of State Bond Proceeds to Make Tax Equivalent Payments