SF 3524

as introduced - 93rd Legislature (2023 - 2024) Posted on 02/12/2024 05:35pm

A bill for an act
relating to capital investment; appropriating money for the City Square West
redevelopment project in the city of Chaska; authorizing the sale and issuance of
state bonds.

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

Section 1. new text begin CHASKA; CITY SQUARE WEST PHASE 2.
new text end

new text begin Subdivision 1. new text end

new text begin Appropriation. new text end

new text begin $19,997,000 is appropriated from the bond proceeds
fund to the commissioner of employment and economic development for a grant to the city
of Chaska to acquire property for, design, construct, equip, and furnish Phase 2 of the City
Square West redevelopment project in downtown Chaska. This appropriation is in addition
to the appropriation in Laws 2023, chapter 72, article 2, section 9, subdivision 3, and is for
the public spaces and public infrastructure related to the project.
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 $19,997,000 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