2006 Minnesota Code
Chapters 473 - 473I Metropolitan Area
Chapter 473 Metropolitan Government
Section 473.1425 WORKING CAPITAL FUND.

473.1425 WORKING CAPITAL FUND.
The Metropolitan Council or a metropolitan agency defined in section 473.121, subdivision
5a , to the extent allowed by other law or contract, may grant available money that has been
appropriated for socially or economically disadvantaged business programs to a guaranty fund
administered by a nonprofit organization that makes or guarantees working capital loans to
businesses owned and operated by socially or economically disadvantaged persons as defined in
Code of Federal Regulations, title 49, section 23.5. The purpose of loans made or guaranteed by
the organization must be to provide short-term working capital to enable eligible businesses to be
awarded contracts for goods and services or for construction related services from government
agencies.
History: 1989 c 320 s 2