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STATE OF MINNESOTA IN SUPREME COURT A07-1512 A07-1513 A07-1514

Court of Appeals

Anderson, G. Barry, J. Concurring, Dietzen, J. Took no part, Magnuson, C.J.

In re a Petition for Instructions to Construe Basic Resolution 876 of The Port Authority of the City of St. Paul. ________________________

Filed: September 10, 2009 Office of Appellate Courts

Kay Nord Hunt, Phillip A. Cole, Keith J. Broady, Lommen, Abdo, Cole, King & Stageberg, P.A., Minneapolis, Minnesota, for appellants 876 Bondholders. Scott G. Knudson, Paul C. Thissen, Diane B. Bratvold, Briggs and Morgan, P.A., Minneapolis, Minnesota, for respondent Port Authority of the City of St. Paul. Susan L. Naughton, League of Minnesota Cities, St. Paul, Minnesota, for amicus curiae League of Minnesota Cities. ________________________ SYLLABUS 1. The procedures of Minn. Stat. ch. 501B (2008) do not apply to revenue

bonds offered by the Port Authority of St. Paul under Basic Resolution 876. 2. The district courts orders regarding Basic Resolution 876 are void because

the district court lacked in rem jurisdiction over the revenue bonds. Reversed and remanded for further proceedings.

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OPINION ANDERSON, G. Barry, Justice. Under Basic Resolution 876, the Port Authority of the City of St. Paul issued a series of revenue bonds. The Port Authority now believes it will never be able to repay the principal of the bonds, and Basic Resolution 876 contains no provision for this circumstance. In 2002 and 2004 the Port Authority filed petitions for instructions

regarding Basic Resolution 876 pursuant to Minn. Stat.

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