HF 2764

as introduced - 84th Legislature (2005 - 2006) Posted on 12/15/2009 12:00am

A bill for an act
relating to capital improvements; authorizing spending to acquire and better
public land and buildings and other public improvements of a capital nature;
authorizing the issuance of general obligation bonds; appropriating money for
the Duluth Entertainment and Convention Center, University of Minnesota,
Duluth arena.

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

Section 1. new text begin APPROPRIATION; DULUTH ENTERTAINMENT AND
CONVENTION CENTER/UNIVERSITY OF MINNESOTA, DULUTH ARENA.
new text end

new text begin $33,736,659 is appropriated from the bond proceeds fund to the commissioner
of employment and economic development for a grant to the city of Duluth to design,
construct, furnish, and equip an approximately 217,446 square foot arena at the Duluth
Entertainment and Convention Center. The arena must include an ice rink of at least
200 feet by 85 feet; trade show and concert space; seating capacity for at least 6,630
with suites, club seats, and concessions; state-of-the-art locker and training facilities;
and accessible and expanded media space.
new text end

new text begin This appropriation is not available until the commissioner of finance has determined:
(1) that at least an equal amount is committed to the project from nonstate sources,
including an annual payment from the University of Minnesota, Duluth of at least
$455,000, for the life of the bonds issued by the city of Duluth for the project, and
an annual payment from the Duluth Entertainment and Convention Center of at least
$461,000, for the life of the bonds issued by the city of Duluth for the project; and (2)
the University of Minnesota, Duluth and the city of Duluth have entered into a lease
agreement for the university??a??a??s use of the arena for the life of the bonds issued by the city.
new text end

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

new text begin To provide the money appropriated in section 1 from the bond proceeds fund,
the commissioner of finance shall sell and issue bonds of the state in an amount up to
$33,736,659 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.
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