1.1 	A bill for an act
1.2 	relating to capital investment; appropriating money for acquisition and 
1.3 	redevelopment of the Jefferson High School site in Alexandria; authorizing the 
1.4 	sale and issuance of state bonds.
1.5 	BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA:

1.6 	Section 1. ALEXANDRIA; REDEVELOPMENT OF JEFFERSON HIGH 
1.7 	SCHOOL SITE.
 1.8 		Subdivision 1.Appropriation. $2,900,000 is appropriated from the bond 
1.9 	proceeds fund to the commissioner of employment and economic development for the 
1.10 	redevelopment grant program under Minnesota Statutes, sections 116J.571 to 116J.575, 
1.11 	for a grant to the Lakes Area Economic Development Authority to acquire and redevelop 
1.12 	the Jefferson High School site in the city of Alexandria. This appropriation is not available 
1.13 	until the commissioner of management and budget determines that at least $2,600,000 is 
1.14 	committed to the project from nonstate sources.
1.15 		Subd. 2.Bond sale. To provide the money appropriated in this section from the 
1.16 	bond proceeds fund, the commissioner of management and budget shall sell and issue 
1.17 	bonds of the state in an amount up to $2,900,000 in the manner, upon the terms, and with 
1.18 	the effect prescribed by Minnesota Statutes, sections 16A.631 to 16A.675, and by the 
1.19 	Minnesota Constitution, article XI, sections 4 to 7.

1.20 	EFFECTIVE DATE. This section is effective the day following final enactment.