reglab/housing_qa huggingface dataset:
MN Stat § 41B.09 (2021)
2021 Minnesota Statutes|Chapters 17 - 43 — Agriculture|Chapter 41B — Rural Finance Authority|Section 41B.09 — Revenue Bonds; Resolutions Authorizing, Additional Terms, Sale.

41B.09 REVENUE BONDS; RESOLUTIONS AUTHORIZING, ADDITIONAL TERMS, SALE. The bonds of the authority must be authorized by a resolution or resolutions adopted by the authority, bear such date or dates, mature at such time or times, bear interest at such rate or rates, be in such denominations, be in such form, carry such registration privileges, be executed in such manner, be payable in lawful money of the United States, at such place or places within or without the state, and be subject to such terms of redemption or purchase prior to maturity as the resolutions or certificates may provide. If, for any reason, whether existing at the date of issue of any bonds or at the date of making or purchasing any loan or securities from the proceeds or after that date, the interest on any bonds is or becomes subject to federal income taxation, this shall not impair or affect the validity or the provisions made for the security of the bonds. The authority may make covenants and take or cause to be taken actions which are in its judgment necessary or desirable and possible to comply with conditions established by federal law or regulations for the exemption of interest on its obligations. The authority may refrain from compliance with those conditions if in its judgment this would serve the purposes and policies set forth in sections 41B.01 to 41B.23 with respect to any particular issue of bonds, unless this would violate covenants made by the authority. The bonds of the authority may be sold at public or private sale at a price or prices determined by the authority. The underwriting discount, spread, or commission paid or allowed to the underwriters of the bonds, however, must be an amount not in excess of the amount determined by the authority to be reasonable in the light of the risk assumed and the expenses of issuance, if any, required to be paid by the underwriters. History:  1986 c 398 art 6 s 9; 1987 c 396 art 1 s 31
MN Stat § 41B.10 (2021)
2021 Minnesota Statutes|Chapters 17 - 43 — Agriculture|Chapter 41B — Rural Finance Authority|Section 41B.10 — Revenue Bonds; Optional Resolution And Contract Provisions.

41B.10 REVENUE BONDS; OPTIONAL RESOLUTION AND CONTRACT PROVISIONS. Any resolution authorizing any bonds or any issue of bonds may contain provisions, which must be a part of the contract with the holders of the bonds, as to the matters referred to in this section. (a) It may pledge or create a lien on all or any part of the money or property of the authority and any money held in trust or otherwise by others to secure the payment of the bonds or of any issue of bonds, subject to any agreements with bondholders which exist. (b) It may provide for the custody, collection, securing, investment, and payment of any money of the authority. (c) It may set aside reserves or sinking funds and provide for their regulation and disposition and may create other special funds into which any money of the authority may be deposited. (d) It may limit the loans and securities to which the proceeds of sale of bonds may be applied and may pledge repayments thereon to secure the payment of the notes or bonds or of any issue of notes or bonds. (e) It may limit the issuance of additional bonds, the terms upon which additional bonds may be issued and secured, and the refunding of outstanding or other bonds. (f) It may prescribe the procedure, if any, by which the terms of any contract with bondholders may be amended or abrogated, the amount of bonds the holders of which must consent to the amendment or abrogation, and the manner in which that consent may be given. (g) It may vest in a trustee or trustees property, rights, powers, and duties in trust determined by the authority, which may include any or all of the rights, powers, and duties of the bondholders, or may limit the rights, powers, and duties of the trustee. (h) It may define the acts or omissions to act which constitute a default in the obligations and duties of the authority and may provide for the rights and remedies of the holders of bonds in the event of a default, and provide any other matters of like or different character, consistent with the general laws of the state and other provisions of sections 41B.01 to 41B.23, which in any way affect the security or protection of the bonds and the rights of the bondholders. History:  1986 c 398 art 6 s 10; 1987 c 396 art 1 s 31
MN Stat § 41B.11 (2021)
2021 Minnesota Statutes|Chapters 17 - 43 — Agriculture|Chapter 41B — Rural Finance Authority|Section 41B.11 — Pledges.

41B.11 PLEDGES. Any pledge made by the authority is valid and binding from the time the pledge is made. The money or property pledged and later received by the authority is immediately subject to the lien of the pledge without any physical delivery of the property or money or further act, and the lien of any pledge is valid and binding as against all parties having claims of any kind in tort, contract, or otherwise against the authority, whether or not those parties have notice of the lien or pledge. Neither the resolution nor any other instrument by which a pledge is created need be recorded. History:  1986 c 398 art 6 s 11; 1987 c 396 art 1 s 31
MN Stat § 41B.12 (2021)
2021 Minnesota Statutes|Chapters 17 - 43 — Agriculture|Chapter 41B — Rural Finance Authority|Section 41B.12 — Revenue Bonds; Nonliability Of Individuals.

41B.12 REVENUE BONDS; NONLIABILITY OF INDIVIDUALS. The members of the authority and its staff and any person executing the bonds are not personally liable on the bonds or subject to any personal liability or accountability by reason of their issuance. History:  1986 c 398 art 6 s 12; 1987 c 396 art 1 s 26
MN Stat § 41B.13 (2021)
2021 Minnesota Statutes|Chapters 17 - 43 — Agriculture|Chapter 41B — Rural Finance Authority|Section 41B.13 — Revenue Bonds; Purchase And Cancellation By Authority.

41B.13 REVENUE BONDS; PURCHASE AND CANCELLATION BY AUTHORITY. The authority, subject to agreements with bondholders which may then exist, has power out of any funds available for the purpose to purchase bonds of the authority at a price not exceeding (a) if the bonds are then redeemable, the redemption price then applicable plus accrued interest to the next interest payment date thereon, or (b) if the bonds are not redeemable, the redemption price applicable on the first date after the purchase upon which the bonds become subject to redemption plus accrued interest to that date. History:  1986 c 398 art 6 s 13; 1987 c 396 art 1 s 31
MN Stat § 41B.14 (2021)
2021 Minnesota Statutes|Chapters 17 - 43 — Agriculture|Chapter 41B — Rural Finance Authority|Section 41B.14 — Revenue Bonds; Nonliability Of State.

41B.14 REVENUE BONDS; NONLIABILITY OF STATE. The state of Minnesota is not liable on bonds of the authority issued under sections 41B.08 and 41B.044 and those bonds are not a debt of the state. The bonds must contain on their face a statement to that effect. History:  1986 c 398 art 6 s 14; 1987 c 396 art 1 s 31; 1993 c 342 s 12
MN Stat § 41B.15 (2021)
2021 Minnesota Statutes|Chapters 17 - 43 — Agriculture|Chapter 41B — Rural Finance Authority|Section 41B.15 — State Pledge Against Impairment Of Contracts.

41B.15 STATE PLEDGE AGAINST IMPAIRMENT OF CONTRACTS. The state pledges and agrees with the holders of any bonds issued under section 41B.08, that the state will not limit or alter the rights vested in the authority to fulfill the terms of any agreements made with the bondholders, or in any way impair the rights and remedies of the holders until the bonds, together with interest on them, with interest on any unpaid installments of interest, and all costs and expenses in connection with any action or proceeding by or on behalf of the bondholders, are fully met and discharged. The authority may include this pledge and agreement of the state in any agreement with the holders of bonds issued under section 41B.08. History:  1986 c 398 art 6 s 15; 1987 c 396 art 1 s 31
MN Stat § 41B.16 (2021)
2021 Minnesota Statutes|Chapters 17 - 43 — Agriculture|Chapter 41B — Rural Finance Authority|Section 41B.16 — Security Account.

41B.16 SECURITY ACCOUNT. Upon determining that a default may occur in the payment of principal or interest on any issue of bonds issued under section 41B.08, or if any debt service reserve fund established in connection with those bonds is drawn upon because the revenues of the program are not then sufficient to make any payment of the principal or interest on them, the authority shall certify those facts to the commissioner of management and budget and shall request that the commissioner of management and budget transfer from the security account established under section 41B.19, subdivision 5, to accounts or funds designated by the authority an amount required to cure the deficiency. History:  1986 c 398 art 6 s 16; 1987 c 396 art 1 s 31; 2009 c 101 art 2 s 109
MN Stat § 41B.17 (2021)
2021 Minnesota Statutes|Chapters 17 - 43 — Agriculture|Chapter 41B — Rural Finance Authority|Section 41B.17 — Powers And Duties Of Trustee.

41B.17 POWERS AND DUTIES OF TRUSTEE. Subdivision 1. General. The trustee designated in any indenture or resolution securing an issue of bonds may, and upon written request of the holders of 25 percent in principal amount of the notes or bonds then outstanding shall, in the trustee's own name, subject to the provisions of the indenture or resolution: (1) enforce all rights of the bondholders, including the right to require the authority to collect fees, charges, interest, and payments on loans or interests therein held by the authority and eligible securities purchased by it adequate to carry out any agreement as to, or pledge of, those fees, charges, and payments, and to require the authority to carry out any other agreements with the holders of the notes or bonds and to perform its duties under sections 41B.01 to 41B.23; (2) bring suit upon the bonds; (3) require the authority to account as if it were the trustee of any express trust for the holders of the bonds; (4) enjoin any acts or things which may be unlawful or in violation of the rights of holders of the bonds; or (5) declare all the bonds due and payable, and if all defaults are made good, then, with the consent of the holders of 25 percent of the principal amount of the bonds then outstanding, the trustee may annul the declaration and consequences. Subd. 2. Additional powers. In addition to the powers in subdivision 1, the trustee has all of the powers necessary or appropriate for the exercise of any functions specifically set forth in this section or incident to the general representation of bondholders or noteholders in the enforcement and protection of their rights. Subd. 3. Venue; notice. The venue of any action or proceedings brought by a trustee under sections 41B.01 to 41B.23, is in Ramsey County. Before declaring the principal of bonds due and payable, the trustee shall first give 30 days' notice in writing to the governor, the authority, and the commissioner of management and budget. History:  1986 c 398 art 6 s 17; 1987 c 396 art 1 s 31; 2003 c 112 art 2 s 50; 2009 c 101 art 2 s 109
MN Stat § 41B.195 (2021)
2021 Minnesota Statutes|Chapters 17 - 43 — Agriculture|Chapter 41B — Rural Finance Authority|Section 41B.195 — Additional Use Of General Obligation Bonds.

41B.195 ADDITIONAL USE OF GENERAL OBLIGATION BONDS. If the Rural Finance Authority determines to issue revenue bonds under section 41B.08 for the purposes specified in section 41B.04, the commissioner may by order provide for the transfer of all or a portion of the remaining general obligation bond proceeds and interest on them, and all or a portion of the participations purchased with the bond proceeds and proceeds of them, to be transferred to the security account established in section 41B.19, subdivision 5, and used for the purposes specified in section 41B.19, subdivisions 1 and 5. History:  1987 c 396 art 1 s 29,31; 1989 c 271 s 10; 1996 c 463 s 37
MN Stat § 41B.20 (2021)
2021 Minnesota Statutes|Chapters 17 - 43 — Agriculture|Chapter 41B — Rural Finance Authority|Section 41B.20 — Exemption From Taxes.

41B.20 EXEMPTION FROM TAXES. The property of the authority and its income and operation shall be exempt from all taxation by the state or any of its political subdivisions. History:  1986 c 398 art 6 s 20; 1987 c 396 art 1 s 31
MN Stat § 41B.21 (2021)
2021 Minnesota Statutes|Chapters 17 - 43 — Agriculture|Chapter 41B — Rural Finance Authority|Section 41B.21 — Certain Actions.

41B.21 CERTAIN ACTIONS. Any action brought by any person with respect to the rights or powers of the authority or calling into question the validity or enforceability of bonds or obligations authorized by sections 41B.01 to 41B.23 is a remedial case of which the supreme court has original jurisdiction pursuant to article VI, section 2 of the constitution. The action may be commenced solely by service upon the state auditor, the commissioner of agriculture, or the executive director of the authority and by filing of the summons and complaint with the supreme court. Upon filing of an answer to the complaint, the court shall order a hearing which must be held not later than 30 days from the date of filing of the answer. At the hearing, the court shall establish an expedited schedule for the action. History:  1986 c 398 art 6 s 21; 1987 c 396 art 1 s 31
MN Stat § 41B.211 (2021)
2021 Minnesota Statutes|Chapters 17 - 43 — Agriculture|Chapter 41B — Rural Finance Authority|Section 41B.211 — Data Privacy.

41B.211 DATA PRIVACY. Subdivision 1. Data on individuals. Financial information, including credit reports, financial statements, and net worth calculations, received or prepared by the authority regarding any authority loan and the name of each individual who is the recipient of a loan are private data on individuals, under chapter 13, except that information obtained under the agricultural development bond program in sections 41C.01 to 41C.13 may be released as required by federal tax law. Subd. 2. Data not on individuals. The following data submitted to the authority by businesses that are requesting financial assistance are nonpublic data as defined in section 13.02: financial information about the applicant, including credit reports, financial statements, net worth calculations, business plans, income and expense projections, customer lists, market and feasibility studies not paid for with public funds, tax returns, and financial reports provided to the authority after closing of the financial assistance. History:  1987 c 396 art 1 s 30; 1991 c 332 s 5; 1995 c 259 art 1 s 29
MN Stat § 41B.22 (2021)
2021 Minnesota Statutes|Chapters 17 - 43 — Agriculture|Chapter 41B — Rural Finance Authority|Section 41B.22 — Construction.

41B.22 CONSTRUCTION. Sections 41B.01 to 41B.23 are necessary for the welfare of the state of Minnesota and its inhabitants; therefore, they shall be liberally construed to effect their purpose. History:   1986 c 398 art 6 s 22
MN Stat § 41B.23 (2021)
2021 Minnesota Statutes|Chapters 17 - 43 — Agriculture|Chapter 41B — Rural Finance Authority|Section 41B.23 — Severability; Actions.

41B.23 SEVERABILITY; ACTIONS. Each of the provisions of sections 41B.01 to 41B.23, and each application thereof to particular circumstances, is severable. If any provision or application is found to be unconstitutional and void, it is the intention that the remaining provisions and applications shall be valid and enforceable to the full extent possible under section 645.20. The supreme court shall have original jurisdiction, pursuant to article VI, section 2 of the constitution, in all cases seeking a remedy based upon an issue raised as to the validity of any such provision or application. History:   1986 c 398 art 6 s 23
MN Stat § 41C.01 (2021)
2021 Minnesota Statutes|Chapters 17 - 43 — Agriculture|Chapter 41C — Agricultural Development|Section 41C.01 — Short Title.

41C.01 SHORT TITLE. This chapter shall be called and may be cited as the "Minnesota Agricultural Development Act." History:   1991 c 332 s 6
MN Stat § 41C.03 (2021)
2021 Minnesota Statutes|Chapters 17 - 43 — Agriculture|Chapter 41C — Agricultural Development|Section 41C.03 — Guiding Principles.

41C.03 GUIDING PRINCIPLES. (a) In the performance of its duties, implementation of its powers, and selection of specific programs and projects to receive its assistance under this chapter, the authority must be guided by the principles in paragraphs (b) to (e). (b) The authority shall not become an owner of real or depreciable property, except on a temporary basis if it is necessary in order to implement its programs, to protect its investments by means of foreclosure or other means, or to facilitate transfer of real or depreciable property for the use of beginning farmers. (c) The authority shall exercise diligence and care in selection of projects to receive its assistance and shall apply customary and acceptable business and lending standards in selection and subsequent implementation of the projects. The authority may delegate primary responsibility for determination and implementation of the projects to any federal governmental agency that assumes any obligation to repay the loan, either directly or by insurance or guarantee. (d) The authority shall establish a beginning farmer and agricultural business enterprise loan program to aid in the acquisition of agricultural land and improvements and depreciable agricultural property by beginning farmers and real and personal property for an agricultural business enterprise. (e) The authority shall develop programs for providing financial assistance to agricultural producers in this state. History:   1991 c 332 s 8
MN Stat § 41C.04 (2021)
2021 Minnesota Statutes|Chapters 17 - 43 — Agriculture|Chapter 41C — Agricultural Development|Section 41C.04 — Combination Programs.

41C.04 COMBINATION PROGRAMS. Programs authorized in this chapter may be combined with any other programs authorized in this chapter or under another state or federal program in order to facilitate as far as practicable the acquisition of agricultural land and property by beginning farmers, to facilitate the implementation of permanent soil and water conservation practices and the acquisition of conservation farm equipment, and to encourage the development of agricultural business enterprises. History:   1991 c 332 s 9
MN Stat § 41C.06 (2021)
2021 Minnesota Statutes|Chapters 17 - 43 — Agriculture|Chapter 41C — Agricultural Development|Section 41C.06 — Loan Allocation.

41C.06 LOAN ALLOCATION. Not more than 25 percent of the total bond allocation available for beginning farmer and agricultural business enterprise loans may be used for agricultural business enterprise loans. However, any portion of the bond allocation that remains unencumbered on November 1 of each year may be made available for agricultural business enterprise loans. History:   1991 c 332 s 11
MN Stat § 41C.09 (2021)
2021 Minnesota Statutes|Chapters 17 - 43 — Agriculture|Chapter 41C — Agricultural Development|Section 41C.09 — Remedies Of Bondholders.

41C.09 REMEDIES OF BONDHOLDERS. Subdivision 1. Default. If the authority defaults in the payment of principal or interest on an issue of bonds at maturity or upon call for redemption and the default continues for a period of 30 days or if the authority fails or refuses to comply with the provisions of this chapter, or defaults in an agreement made with the holders of an issue of bonds, the holders of 25 percent in aggregate principal amount of bonds of the issue then outstanding, by instrument filed in the office of the clerk of the county in which the principal office of the authority is located and proved or acknowledged in the same manner as a deed to be recorded, may appoint a trustee to represent the holders of the bonds for the purposes provided in this section. Subd. 2. Actions. The authority or any trustee appointed under the indenture under which the bonds are issued may, but upon written request of the holders of 25 percent in aggregate principal amount of the issue of bonds then outstanding shall: (1) enforce all rights of the bondholders including the right to require the authority to carry out its agreements with the holders and to perform its duties under this chapter; (2) bring suit upon the bonds; (3) by action require the authority to account as if it were the trustee of an express trust for the holders; (4) by action enjoin any acts or things which are unlawful or in violation of the rights of the holders; and (5) declare all the bonds due and payable and, if all defaults are made good, with the consent of the holders of 25 percent of the aggregate principal amount of the issue of bonds then outstanding, annul the declaration and its consequences. Subd. 3. Trustee's powers. The trustees may exercise functions specifically set forth or incident to the general representation of bondholders in the enforcement and protection of their rights. Subd. 4. Notice. Before declaring the principal of bonds due and payable, the trustee shall first give 30 days' notice in writing to the governor, to the authority, and to the attorney general of the state. Subd. 5. Jurisdiction. The district court has jurisdiction of any action by the trustee on behalf of bondholders. The venue of the action is in the county in which the principal office of the authority is located. The bondholders may, to the extent provided in the resolution to which the bonds were issued or in its agreement with the authority, enforce any of the remedies in subdivision 2, clauses (1) to (5), or the remedies provided in the proceedings or agreements for and on their own behalf. History:   1991 c 332 s 14
MN Stat § 41C.10 (2021)
2021 Minnesota Statutes|Chapters 17 - 43 — Agriculture|Chapter 41C — Agricultural Development|Section 41C.10 — Bonds As Legal Investments.

41C.10 BONDS AS LEGAL INVESTMENTS. Bonds are securities in which public officers, state departments and agencies, political subdivisions, insurance companies, and other persons carrying on an insurance business, banks, trust companies, savings associations, investment companies, and other persons carrying on a banking business, administrators, executors, guardians, conservators, trustees, and other fiduciaries and other persons authorized to invest in bonds or other obligations of this state may properly and legally invest funds including capital in their control or belonging to them. The bonds are also securities which may be deposited with and may be received by public officers, state departments and agencies, and political subdivisions for any purpose for which the deposit of bonds or other obligations of this state is authorized. History:  1991 c 332 s 15; 1995 c 202 art 1 s 25