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The employee shall possess such agreement and the employee's legal rights under the contract shall be nonforfeitable aside from failure to pay for premiums. Area 122A.40 shall not be applicable hereto as well as the board shall have no legal responsibility thereunder as a consequence of its buy of any unique annuity contracts. This statute shall be applied inside a nondiscriminatory manner to staff members of the school district. The identity and quantity of the accessible suppliers beneath federal Inner Earnings Code section 403(b) is actually a term and ailment of work below segment 179A.03.

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(d) Right before issuing bonds or incurring other credit card debt, the governing body answerable for employing the arrangement should adopt a resolution proposing to situation bonds or incur other personal debt and also the proposed financial result with the bonds or other debt on Each and every participating district. The resolution should be adopted within a time ample to enable the board to undertake a resolution within the time permitted by this paragraph and also to adjust to the statutory deadlines established forth in sections 122A.

(b) A district might apply into the commissioner of training for condition assist to reimburse The prices of transporting pupils who are enrolled in an area Understanding center application founded underneath portion 123A.05 in the course of the previous fiscal 12 months. The commissioner shall acquire the form and manner of applications for state support, the criteria to determine when transportation is important, plus the accounting course of action to ascertain surplus expenses.

The voters of the district might authorize the issuance of bonds on the district in accordance Together with the provisions of chapter 475.

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(e) Just after July 1, 1993, a district is liable In keeping with paragraph (d) for its share of bonded indebtedness or other debt incurred by the governing entire body implementing the agreement on the extent the bonds or other financial debt are straight relevant to the services or routines through https://123b.fitness/ which the district participates or for which the district supplies fiscal assistance. The district has ongoing legal responsibility only until the obligation or financial debt is discharged and only according to the payment program in outcome at enough time the governing entire body implementing the agreement offers discover to The varsity board, other than which the payment schedule could be altered for the purpose of refunding the fantastic bonds or restructuring other personal debt In case the once-a-year payments from the district aren't enhanced and if the overall obligation of the district to the excellent bonds or other personal debt just isn't improved.

(iii) an amount equivalent to 1 calendar year's depreciation on the district's sort III cars, as described in section 169.011, subdivision 71, which has to be applied a majority of enough time for pupil transportation purposes, computed over a straight line basis at the rate of 20 percent each year of the expense of the kind three college buses by:

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(one) has delegated authority for the clerk or possibly a designated organization administrator to produce a payment just before board acceptance; and

Money grants and loans can be obtained only to qualifying districts. Money grants and loans should not be employed for the development of swimming pools, ice arenas, athletic facilities, auditoriums, new textual content start off