SF 1491

as introduced - 89th Legislature (2015 - 2016) Posted on 03/10/2015 08:55am

A bill for an act
relating to capital investment; appropriating money for the historic Hennepin
Center for the Arts; authorizing the sale and issuance of state bonds.

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

Section 1. new text begin HENNEPIN CENTER FOR THE ARTS.
new text end

new text begin Subdivision 1. new text end

new text begin Appropriation. new text end

new text begin $6,000,000 is appropriated from the bond proceeds
fund to the commissioner of employment and economic development for a grant to
Hennepin County for improvements and betterments of a capital nature to renovate the
historic Hennepin Center for the Arts, subject to Minnesota Statutes, section 16A.695. This
appropriation is not available until the commissioner of management and budget determines
that $3,000,000 has been committed to complete the project 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 $6,000,000 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