1.1                          A bill for an act 
  1.2             relating to capital investment; modifying the grant 
  1.3             recipient of an appropriation for St. Cloud Paramount 
  1.4             Theater to provide for the city to own the facility; 
  1.5             amending Laws 1998, chapter 404, section 23, 
  1.6             subdivision 17, as amended. 
  1.7   BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA: 
  1.8      Section 1.  Laws 1998, chapter 404, section 23, subdivision 
  1.9   17, as amended by Laws 1999, chapter 20, section 1, is amended 
  1.10  to read: 
  1.11  Subd. 17.  Paramount Arts District
  1.12  Regional Arts Center                                    750,000
  1.13  (a) To the commissioner of 
  1.14  administration for a grant to the city 
  1.15  of St. Cloud ~~Housing and Redevelopment~~ 
  1.16  ~~Authority~~ to construct, furnish, and 
  1.17  equip the Paramount Arts District 
  1.18  Regional Arts Center, subject to 
  1.19  Minnesota Statutes, section 16A.695.  
  1.20  This appropriation is not available 
  1.21  until the commissioner has determined 
  1.22  that the necessary additional financing 
  1.23  to complete at least a $5,400,000 
  1.24  project has been committed by nonstate 
  1.25  sources. 
  1.26  (b) The Housing and Redevelopment 
  1.27  Authority must effect the transfer as 
  1.28  otherwise required or permitted by 
  1.29  law.  Once the transfer is effected, 
  1.30  the city is the successor to the 
  1.31  Housing and Redevelopment Authority for 
  1.32  the purposes of the grant and Minnesota 
  1.33  Statutes, section 16A.695. 
  1.34     <b>[EFFECTIVE DATE.]</b> This section is effective the day 
  1.35  following final enactment.