HF 2836

as introduced - 89th Legislature (2015 - 2016) Posted on 03/10/2016 03:11pm

A bill for an act
relating to capital investment; appropriating money for the city of Red Wing;
authorizing the sale and issuance of state bonds.

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

Section 1. new text begin RED WING-RIVER RENAISSANCE.
new text end

new text begin Subdivision 1. new text end

new text begin Appropriation. new text end

new text begin $4,480,000 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 complete removal and replacement of 250 lineal feet of the harbor
retaining wall; to design, construct, furnish, and equip the renovation of the historic T.B.
Sheldon Performing Arts Theater; and to design and construct transient riverboat docking
facilities, levee wall extension, and levee promenade improvements at Levee Park. This
appropriation is not available until the commissioner of management and budget determines
that an amount sufficient to complete the project is committed from nonstate sources.
new text end

new text begin Subd. 2. new text end

new text begin Bond sale. new text end

new text begin 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 $4,480,000 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.
new text end

new text begin EFFECTIVE DATE. new text end

new text begin This section is effective the day following final enactment.
new text end