HF 1842

as introduced - 86th Legislature (2009 - 2010) Posted on 02/09/2010 01:55am

A bill for an act
relating to capital improvements; appropriating money for the State Capitol
Building; authorizing the sale and issuance of state bonds.

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

Section 1. new text begin APPROPRIATION; STATE CAPITOL BUILDING RESTORATION.
new text end

new text begin $3,000,000 is appropriated from the bond proceeds fund to the commissioner of
administration for planning, including a predesign study and schematic design, for the
restoration of the State Capitol Building to preserve Minnesota's history and cultural
heritage.
new text end

Sec. 2. new text begin BOND SALE.
new text end

new text begin To provide the money appropriated in section 1 from the bond proceeds fund,
the commissioner of finance shall sell and issue bonds of the state in an amount up to
$3,000,000 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

Sec. 3. new text begin DEBT SERVICE.
new text end

new text begin The amount necessary to pay the debt service on the bonds issued in section 2 is
annually appropriated from the Arts and Cultural Heritage Fund under the Minnesota
Constitution, article XI, section 15, to the commissioner of finance for transfer to the
bond debt service account in the state bond fund. The commissioner of finance shall
determine the debt service amount required by this section as provided in Minnesota
Statutes, section 16A.643.
new text end

Sec. 4. new text begin EFFECTIVE DATE.
new text end

new text begin Sections 1 to 3 are effective the day following final enactment.
new text end