MN SF3124

Commissioner of Management and Budget must prepay and defease outstanding bonds issued under Minnesota Statutes section 16A.99 on or before September 1, 2022.

General fund appropriation in fiscal year 2022 must be sufficient to cover $357,055,000 outstanding principal balance plus accrued interest from March 1, 2022 through prepayment date and associated financing costs.

Commissioner must mail notice of bond redemption as required by law and official bond sale statement.

Repeals Minnesota Statutes 2020, sections 16A.97, 16A.98, and 16A.99 (tobacco bonds and tobacco securitization bonds provisions).

All sections effective the day following final enactment, except repealer which becomes effective the day after bonds are prepaid and defeased.