MN SF844

Authorizes transfer of three parcels (A, B, and C) of land and improvements from Independent School District No. 38, Red Lake to the Red Lake Band of Chippewa Indians.

Transfer is not considered a sale under Minnesota Statutes section 16A.695, provided the tax-exempt status of any previously issued bonds is not compromised.

Requires the Red Lake Band of Chippewa Indians to lease the transferred parcels and buildings back to Independent School District No. 38, Red Lake for a term of at least 125 percent of the useful life of bond-financed improvements.

Parcel A contains 17.98 acres located in Lots 1 and 2 of Section 21, Township 151 North, Range 34 West; Parcel B contains 17.62 acres in Government Lot 3, Section 5, Township 152 North, Range 33 West; Parcel C contains up to 20 acres in Lots 3 and 4 of Section 21, Township 151 North, Range 34 West.

All mineral deposits in the parcels are reserved to the United States, with rights to prospect for and remove such deposits under Secretary of the Interior regulations.