HF 2713

as introduced - 85th Legislature (2007 - 2008) 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 improvements of a capital nature; authorizing the
issuance of state bonds; appropriating money for the Bemidji Regional Event
Center.

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

Section 1. BEMIDJI REGIONAL EVENT CENTER.

Subdivision 1.

Appropriation.

$22,000,000 is appropriated from the bond proceeds
fund to the commissioner of employment and economic development for a grant to the
city of Bemidji to acquire land, predesign, design, construct, furnish, and equip a regional
event center to be located within the core of downtown Bemidji. This appropriation is
not available until the commissioner of finance determines that at least $25,000,000 is
committed to the project from nonstate sources.

Subd. 2.

Bond sale.

To provide the money appropriated in subdivision 1 from
the bond proceeds fund, the commissioner of finance shall sell and issue bonds of the
state in an amount up to $22,000,000 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.

EFFECTIVE DATE.

This section is effective the day following final enactment.