HF 66

as introduced - 84th Legislature, 2005 1st Special Session (2005 - 2005) Posted on 12/15/2009 12:00am

A bill for an act
relating to capital investment; authorizing spending
to acquire and better public land and buildings and
other public improvements of a capital nature;
appropriating money for a new football stadium for the
University of Minnesota; authorizing the issuance of
general obligation bonds.

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

Section 1. new text begin APPROPRIATION; UNIVERSITY OF MINNESOTA
VETERANS MEMORIAL FOOTBALL STADIUM.
new text end

new text begin $35,000,000 is appropriated from the bond proceeds fund to
the Board of Regents of the University of Minnesota to design,
construct, furnish, and equip a new football stadium on the
Minneapolis campus. This appropriation is not available until
the commissioner of finance determines that funds sufficient to
complete the stadium are committed to the project, that the
Board of Regents has agreed to name the stadium "Veterans
Memorial Stadium," and that the names of all Minnesota veterans
who died in service to their country during a time of war are
listed in a prominent location in the stadium.
new text end

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

new text begin To provide the money appropriated by section 1, from the
bond proceeds fund, the commissioner of finance shall sell and
issue bonds of the state in an amount up to $35,000,000 in the
manner, on 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 EFFECTIVE DATE.
new text end

new text begin Sections 1 and 2 are effective the day following final
enactment.
new text end