as introduced - 87th Legislature (2011 - 2012) Posted on 02/27/2012 01:08pm
A bill for an act
relating to capital investment; appropriating money for the Sheldon Theatre in
Red Wing; authorizing the sale and issuance of state bonds.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA:
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$612,000 is appropriated from the bond proceeds
fund to the commissioner of employment and economic development for a grant to the city
of Red Wing to design, construct, furnish, and equip the renovation of the Sheldon Theatre.
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This appropriation is available when the commissioner of management and budget
determines that at least an equal amount has been committed to the project from nonstate
sources.
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To provide the money appropriated in this section from the
bond proceeds fund, the commissioner of management and budget shall sell and issue
bonds of the state in an amount up to $612,000 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.
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This section is effective the day following final enactment.
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