Minnesota HF4840 authorizes lease-purchase agreements and certificates of participation to fund MAXIS system improvements.

Minnesota HF4840 allows the commissioner to enter into lease-purchase agreements for the MAXIS project, authorizing the sale and issuance of certificates of participation. The bill defines the MAXIS project as the development, acquisition, installation, and implementation of a modernization plan or replacement of the state's MAXIS system. The commissioner can transfer funds from the general fund to the MAXIS lease project fund and credit lease-purchase proceeds to this fund. The bill also outlines the tax treatment, administrative expenses, and covenants for the lease-purchase agreement.

Minnesota HF4840 authorizes lease-purchase agreements and certificates of participation to fund MAXIS system improvements.

Minnesota HF4840 allows the commissioner to enter into lease-purchase agreements for the MAXIS project, authorizing the sale and issuance of certificates of participation. The bill defines the MAXIS project as the development, acquisition, installation, and implementation of a modernization plan or replacement of the state's MAXIS system. The commissioner can transfer funds from the general fund to the MAXIS lease project fund and credit lease-purchase proceeds to this fund. The bill also outlines the tax treatment, administrative expenses, and covenants for the lease-purchase agreement.