HF 987

as introduced - 92nd Legislature (2021 - 2022) Posted on 02/10/2021 04:09pm

A bill for an act
relating to capital investment; appropriating money for an indoor recreational
facility in North Mankato; authorizing the sale and issuance of state bonds.

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

Section 1. new text begin INDOOR RECREATIONAL FACILITY; NORTH MANKATO.
new text end

new text begin Subdivision 1. new text end

new text begin Appropriation. new text end

new text begin $8,500,000 is appropriated from the bond proceeds fund
to the commissioner of employment and economic development for a grant to the city of
North Mankato to predesign, design, construct, furnish, and equip an indoor recreational
facility and improvements and renovations to existing facilities at the Caswell Regional
Sporting Complex, including upgrading the concession stand and restrooms, adding a parking
lot, new fencing, field lighting and scoreboards, increasing the size of fields, adding a turf
field, adding spectator seating, and for a new public address system and signage. This
appropriation is not available until the commissioner of management and budget determines
that $6,000,000 has been committed from nonstate sources to complete 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 $8,500,000 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