1.1 	A bill for an act
1.2 	relating to local government; providing for dissolution of an area redevelopment 
1.3 	agency and transfer of its assets and liabilities to another entity; dissolving the 
1.4 	Hibbing Area Redevelopment Agency and transferring its assets and liabilities to 
1.5 	the Hibbing Economic Development Authority;amending Minnesota Statutes 
1.6 	2006, section 469.111, by adding a subdivision.
1.7 	BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA:

1.8 	Section 1. Minnesota Statutes 2006, section 469.111, is amended by adding a 
1.9 	subdivision to read:
1.10 		Subd. 7.Dissolution, transfer of assets and liabilities. The governing body of the 
1.11 	municipality in and for which the local agency was created, may by resolution dissolve the 
1.12 	agency and transfer its assets and liabilities to the municipality, or to a public authority 
1.13 	or agency of the municipality. The governing body must adopt the resolution after 
1.14 	providing the same notice and public hearing as provided for creation of the local agency 
1.15 	in subdivision 2. The resolution adopted must be published as provided in subdivision 
1.16 	2. A certified copy of the resolution must be submitted to the state agency as provided 
1.17 	for creation of a local agency in subdivision 4. The local agency is dissolved when the 
1.18 	resolution is effective. Upon dissolution of a local agency, all contracts, obligations, 
1.19 	property, records, assets, cash, or other funds held or used by the local agency are 
1.20 	transferred to and become the property of the municipality, or the authority or agency of 
1.21 	the municipality named in the resolution. Upon dissolution of a local agency, all rights of 
1.22 	the local agency against any person accrue to and may be enforced by the municipality, or 
1.23 	the successor authority or agency.

2.1 	Sec. 2. DISSOLUTION AND DISCONTINUANCE OF HIBBING AREA 
2.2 	REDEVELOPMENT AGENCY.
 2.3 		Subdivision 1.Dissolution. The Hibbing Area Redevelopment Agency is dissolved 
2.4 	and discontinued.
2.5 		Subd. 2.Transfer of assets. The assets of the Hibbing Area Redevelopment 
2.6 	Agency are transferred to the Hibbing Economic Development Authority by deed to be 
2.7 	signed by the president and secretary of the Hibbing Area Redevelopment Agency.
2.8 		Subd. 3.Assumption of debts and obligations. After acceptance of the deed, the 
2.9 	Hibbing Economic Development Authority shall assume any and all of the obligations 
2.10 	and debts of the Hibbing Area Redevelopment Agency.

2.11 	EFFECTIVE DATE. This section is effective the day after the city council for the 
2.12 	city of Hibbing and its chief clerical officer timely complete compliance with Minnesota 
2.13 	Statutes, section 645.021, subdivisions 2 and 3.