MN SF2471

Removes the phrase "or partly" from restrictions on independent school districts located within a city of the first class, limiting the provision to districts located wholly within such cities.

Maintains existing debt limits for independent school districts, restricting obligations to two-year terms when outstanding obligations equal or exceed 0.7 percent of taxable property market value.

Requires school district elections under section 475.58 to be held on the first Tuesday after the first Monday in November.

Amends Minnesota Statutes 2010, sections 475.53, subdivision 5 and 475.58 regarding school district bonding and election provisions.