SF 1443

as introduced - 89th Legislature (2015 - 2016) Posted on 03/06/2015 08:55am

A bill for an act
relating to capital investment; appropriating money for an economic development
center and a mental health facility; authorizing the sale and issuance of state bonds.

BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA:

Section 1. new text begin ECONOMIC DEVELOPMENT CENTER AND MENTAL HEALTH
FACILITY; VIRGINIA.
new text end

new text begin Subdivision 1. new text end

new text begin Appropriation. new text end

new text begin $14,000,000 is appropriated from the bond proceeds
fund to the commissioner of employment and economic development for a grant to St.
Louis County to design, construct, furnish, and equip a new building at 701 4th Street
N in Virginia, to house a jobs and economic development center and a mental health
facility. St. Louis County may enter into one or more lease or management agreements
for the facility, subject to Minnesota Statutes, section 16A.695. This appropriation is not
available until the commissioner has determined that an amount sufficient to complete the
project has been committed from nonstate sources.
new text end

new text begin Subd. 2. new text end

new text begin Bond sale. new text end

new text begin To provide the money appropriated in this section from the
bond proceeds fund, the commissioner of management and budget shall sell and issue
bonds of the state in an amount up to $14,000,000 in the manner, upon the terms, and with
the effect prescribed by Minnesota Statutes, sections 16A.631 to 16A.675, and by the
Minnesota Constitution, article XI, sections 4 to 7.
new text end

new text begin EFFECTIVE DATE. new text end

new text begin This section is effective the day following final enactment.
new text end