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HF 3825

1st Committee Engrossment - 86th Legislature (2009 - 2010) Posted on 03/19/2013 07:29pm

KEY: stricken = removed, old language.
underscored = added, new language.

Current Version - 1st Committee Engrossment

1.1A bill for an act
1.2relating to stadiums; providing for a new National Football League stadium in
1.3Minnesota; establishing the Minnesota Stadium Authority;amending Minnesota
1.4Statutes 2008, sections 128C.24; 297A.71, by adding a subdivision; 473.551, by
1.5adding subdivisions; 473.552; 473.553, subdivisions 2, 3; 473.556, subdivision
1.65; 473.561; 473.581, subdivision 2; 473.5995, by adding a subdivision; Laws
1.71986, chapter 396, section 4, subdivision 3; proposing coding for new law in
1.8Minnesota Statutes, chapters 349A; 473.
1.9BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA:

1.10    Section 1. Minnesota Statutes 2008, section 128C.24, is amended to read:
1.11128C.24 LEAGUE FUNDS TRANSFER FINANCIAL ASSISTANCE.
1.12    Subdivision 1. Foundation grants; sales tax savings. Beginning July 1, 2007,
1.13the Minnesota State High School League shall annually determine the sales tax savings
1.14attributable to section 297A.70, subdivision 11, and annually transfer that amount to
1.15a nonprofit charitable foundation created for the purpose of promoting high school
1.16extracurricular activities. The funds must be used by the foundation to make grants to
1.17fund, assist, recognize, or promote high school students' participation in extracurricular
1.18activities. The first priority for funding will be grants for scholarships to individuals to
1.19offset athletic fees. The foundation must equitably award grants based on considerations
1.20of gender balance, school size, and geographic location, to the extent feasible.
1.21    Subd. 2. League grants for participation. Money paid to the league under section
1.22473.5814 must be used to provide need-based financial assistance to Minnesota students
1.23who participate in league-sanctioned activities. The league must establish grant program
1.24criteria, procedures, and award maximums. If a student is awarded a grant, the league
1.25must make it to the school directly and the school must then waive participation fees
1.26for that student.

2.1    Sec. 2. Minnesota Statutes 2008, section 297A.71, is amended by adding a subdivision
2.2to read:
2.3    Subd. 42. Football stadium building materials. Materials and supplies used
2.4or consumed in, and equipment incorporated into, the construction or improvement of
2.5the football stadium and public infrastructure constructed pursuant to sections 473.551
2.6to 473.5814 are exempt. This subdivision expires one year after the date that the first
2.7National Football League game is played in the stadium for materials, supplies, and
2.8equipment used in the stadium, and five years after the issuance of the first bonds under
2.9section 473.5812 for materials, supplies, and equipment used in the public infrastructure.

2.10    Sec. 3. [349A.17] STADIUM OR FOOTBALL THEME GAME.
2.11The Minnesota lottery shall conduct an annual game based on stadium themes or
2.12professional football themes. An amount raised from the conduct of the annual sports
2.13themed game, equal to but not to exceed $5,500,000 per year, from the lottery's annual
2.14contributions to the state general fund is transferred each year to the stadium account
2.15established in section 473.5995, subdivision 1, until the bonds sold by the Metropolitan
2.16Council for acquisition and betterment of a football stadium have been defeased or retired.

2.17    Sec. 4. Minnesota Statutes 2008, section 473.551, is amended by adding a subdivision
2.18to read:
2.19    Subd. 18. Football stadium. "Football stadium" means the stadium suitable for
2.20professional football in the city of Minneapolis, designed, constructed, and financed under
2.21sections 473.551 to 473.599, and owned by the commission.

2.22    Sec. 5. Minnesota Statutes 2008, section 473.551, is amended by adding a subdivision
2.23to read:
2.24    Subd. 19. Football team. "Football team" means the National Football League
2.25professional team known on the effective date of this section as the Minnesota Vikings, its
2.26owners and operators, or any team owned and operated by someone who purchases or
2.27otherwise takes ownership or control of or reconstitutes the professional football team
2.28known as the Minnesota Vikings.

2.29    Sec. 6. Minnesota Statutes 2008, section 473.551, is amended by adding a subdivision
2.30to read:
3.1    Subd. 20. Development area for the football stadium. "Development area" or
3.2"development area for the football stadium" means the football stadium site and any
3.3adjacent area designated by the commission.

3.4    Sec. 7. Minnesota Statutes 2008, section 473.551, is amended by adding a subdivision
3.5to read:
3.6    Subd. 21. Public infrastructure for the football stadium. "Public infrastructure"
3.7or "public infrastructure for the football stadium" means property, facilities, and
3.8improvements determined by the commission to facilitate the development and use of the
3.9football stadium, including but not limited to property and improvements for drainage,
3.10environmental remediation, parking, roadways, walkways, skyways, pedestrian bridges,
3.11bicycle paths, and transit improvements to facilitate public access to the stadium, lighting,
3.12landscaping, utilities, streets, and streetscapes.

3.13    Sec. 8. Minnesota Statutes 2008, section 473.551, is amended by adding a subdivision
3.14to read:
3.15    Subd. 22. Streetscape. "Streetscape" means improvements to streets and sidewalks
3.16or other public right-of-way for the purpose of enhancing the movement, safety,
3.17convenience, or enjoyment of the football stadium patrons and other pedestrians, including
3.18decorative lighting and surfaces, plantings, display and exhibit space, adornments, seating,
3.19and transit and bus shelters.

3.20    Sec. 9. Minnesota Statutes 2008, section 473.552, is amended to read:
3.21473.552 LEGISLATIVE POLICY; PURPOSE.
3.22The legislature finds that
3.23(a) the population in the metropolitan area has a need for sports facilities and that this
3.24need cannot be met adequately by the activities of individual municipalities, by agreements
3.25among municipalities, or by the private efforts of the people in the metropolitan area,
3.26(b) the commission's ownership and operation of the Metrodome and met center has
3.27met in part the foregoing need and has promoted the economic and social interests of the
3.28metropolitan area, of the state, and of the public, and
3.29(c) the commission's acquisition of the basketball and hockey arena, construction,
3.30and operation of a professional football stadium for use by the football team on the terms
3.31and conditions provided in sections 473.598 and 473.599 473.5812 to 473.5814 shall
3.32similarly and more fully meet the foregoing needs and promote these interests.
4.1It is therefore necessary for the public health, safety and general welfare to establish
4.2a procedure for the acquisition and betterment of sports facilities and to create a
4.3Metropolitan Sports Facilities Commission.

4.4    Sec. 10. Minnesota Statutes 2008, section 473.553, subdivision 2, is amended to read:
4.5    Subd. 2. Membership. The commission shall consist of six members, appointed
4.6by the Minneapolis city council of the city in which the stadium is located plus a chair
4.7appointed as provided in subdivision 3.

4.8    Sec. 11. Minnesota Statutes 2008, section 473.553, subdivision 3, is amended to read:
4.9    Subd. 3. Chair. The chair shall be appointed by the governor as the ninth voting
4.10member and shall meet all of the qualifications of a member, except the chair need only
4.11reside outside the city of Minneapolis. The mayor of the city of Minneapolis, or the
4.12mayor's designee, shall serve as the chair of the commission. The chair shall preside at all
4.13meetings of the commission, if present, and shall perform all other duties and functions
4.14assigned by the commission or by law. The commission may appoint from among its
4.15members a vice-chair to act for the chair during temporary absence or disability.

4.16    Sec. 12. Minnesota Statutes 2008, section 473.556, subdivision 5, is amended to read:
4.17    Subd. 5. Facility operation. The commission may equip, improve, operate,
4.18manage, maintain, and control the Metrodome, Met Center, basketball and hockey arena
4.19football stadium, and sports facilities constructed, remodeled, or acquired under the
4.20provisions of sections 473.551 to 473.599.

4.21    Sec. 13. Minnesota Statutes 2008, section 473.561, is amended to read:
4.22473.561 EXEMPTION FROM COUNCIL REVIEW; BUSINESS SUBSIDY
4.23ACT; CHARTER LIMITATIONS.
4.24The acquisition and betterment of sports facilities by the commission shall be
4.25conducted pursuant to sections 473.551 to 473.599 and shall not be affected by the
4.26provisions of sections 473.165 and 473.173. Section 116J.994 does not apply to any
4.27transactions of the commission, the city of Minneapolis, or other governmental entity
4.28related to the stadium or public infrastructure, or to any tenant or other users of them. The
4.29city of Minneapolis may spend money for acquisition, design, construction, and operation
4.30of the football stadium, notwithstanding any limitation in its home rule charter. Actions
4.31taken by the city under sections 473.551 to 473.599, in a planning or regulatory capacity,
4.32actions for which fair market value reimbursement is provided or for which standard fees
5.1are collected, and any tax exemptions established under sections 473.551 to 473.599,
5.2are deemed not to be an expenditure or other use of city resources within the meaning
5.3of any charter limitation.

5.4    Sec. 14. Minnesota Statutes 2008, section 473.581, subdivision 2, is amended to read:
5.5    Subd. 2. Procedure. The bonds shall be sold, issued, and secured in the manner
5.6provided in chapter 475 for bonds payable solely from revenues, except as otherwise
5.7provided in sections 473.551 to 473.595, and the council shall have the same powers and
5.8duties as a municipality and its governing body in issuing bonds under that chapter. The
5.9bonds may be sold at any price and at public or private sale as determined by the council.
5.10They shall be payable solely from tax and other revenues referred to in sections 473.551 to
5.11473.595 , excepting only the admissions tax and surcharge taxes and revenues related to the
5.12basketball and hockey arena provided in section 473.595, subdivision 1a, the taxes for the
5.13basketball and hockey arena provided in section 473.592, and other revenues attributable
5.14to the basketball and hockey arena football stadium under section 473.5812 to 473.5814.
5.15The bonds shall not be a general obligation or debt of the council or of the commission,
5.16and shall not be included in the net debt of any city, county, or other subdivision of the
5.17state for the purpose of any net debt limitation, provided that nothing herein shall affect
5.18the obligation of the city of Minneapolis to levy a tax pursuant to agreements made under
5.19the provisions of section 473.592. No election shall be required. The principal amount
5.20shall not be limited except as provided in subdivision 3.

5.21    Sec. 15. [473.5812] FOOTBALL STADIUM; COUNCIL DEBT OBLIGATIONS.
5.22    Subdivision 1. Use of bond proceeds. The council may by resolution authorize the
5.23sale and issuance of its bonds for any or all of the following purposes:
5.24(1) to provide funds for the acquisition or betterment of a football stadium by the
5.25commission pursuant to sections 473.551 to 473.5814;
5.26(2) to refund bonds issued under this section; and
5.27(3) to fund judgments entered by any court against the commission or against the
5.28council in matters relating to the commission's functions related to the football stadium.
5.29    Subd. 2. Amount; procedure. The council may sell and issue bonds in an amount
5.30to be determined by the council. The bonds shall be sold, issued, and secured in the
5.31manner provided in chapter 475 for bonds payable solely from revenues and the council
5.32shall have the same powers and duties as a municipality and its governing body in issuing
5.33bonds under that chapter. The bonds may be sold at any price and at public or private sale
5.34as determined by the council. The bonds shall not be a general obligation or debt of
6.1the council or of the commission, and shall not be included in the net debt of any city,
6.2county, or other subdivision of the state for the purpose of any net debt limitation. No
6.3election is required.
6.4    Subd. 3. Prerequisite. The council must not sell and issue bonds under this section
6.5until the council determines that the criteria and conditions in section 473.5814 have
6.6been met.
6.7    Subd. 4. Security; maturity. The council may pledge to the payment of the bonds
6.8money in the escrow account and money pledged by the city of Minneapolis under section
6.9473.5814, money appropriated to the council in the football stadium account in section
6.10473.5995, and any other revenues from leases, rents, or other sources available to the
6.11council for debt service. Notwithstanding section 475.54, the bonds may mature at not
6.12later than 40 years from the date of issue, or the useful life of the asset, whichever is less.
6.13The bonds must recite that they are issued under this section and section 473.5814, and
6.14the recital is conclusive as to the validity of the bonds and the imposition and pledge of
6.15the revenues for their payment.

6.16    Sec. 16. [473.5814] CRITERIA AND CONDITIONS.
6.17    Subdivision 1. Binding and enforceable. In developing the stadium and entering
6.18into related contracts, the commission must follow and enforce the criteria and conditions
6.19in this section, provided that a determination by the council that those criteria or conditions
6.20have been met under any agreement or otherwise shall be conclusive. All financing and
6.21use agreements between the council, commission, city of Minneapolis, and the football
6.22team must be executed by September 1, 2010.
6.23    Subd. 2. Football team contribution. The football team must agree to deposit into
6.24an escrow account an amount sufficient to pay at least the first ten years of debt service
6.25on bonds issued by the council under section 473.5812. Money in the escrow account is
6.26for the sole benefit and purpose of paying debt service on bonds issued by the council for
6.27acquisition and betterment of a football stadium.
6.28    Subd. 3. Team contribution to student athletics. In addition to the contribution
6.29under subdivision 2, the team must transfer to the Minnesota State High School League
6.30under section 128C.24, subdivision 2, an amount equal to five percent of the amount
6.31placed in escrow by the team under subdivision 2.
6.32    Subd. 4. Minneapolis hospitality taxes pledged. After the bonds issued to build
6.33the Minneapolis Convention Center have been defeased or retired, the city of Minneapolis
6.34must agree to pay to the commission or council 58.5 percent of the money raised under
6.35Laws 1986, chapter 396, section 4, as amended in this act. The commission or council
7.1must use this money only to pay capital and operating costs, including any debt service
7.2due, of the football stadium constructed under this chapter.
7.3    Subd. 5. Local sales tax exemption. No local sales or use tax may be imposed on
7.4sales at the stadium site, except a general sales tax permitted under section 297A.99.
7.5    Subd. 6. Lease or use agreements; 40-year term. The commission must enter into
7.6a long-term lease or use agreement with the football team for the football team's use of
7.7the stadium. The football team must agree to play all regularly scheduled and postseason
7.8home games at the stadium. Preseason games may also be scheduled and played at the
7.9stadium. The lease or use agreement must be for a term of at least 40 years from the
7.10date of stadium completion. The lease or use agreement must include terms for default,
7.11termination, and breach of the agreement. Recognizing that the presence of professional
7.12football provides to the state of Minnesota and its citizens highly valued, intangible
7.13benefits that are virtually impossible to quantify and, therefore, not recoverable in the
7.14event of a football team owner's breach of contract, the lease and use agreements must
7.15provide for specific performance and injunctive relief to enforce provisions relating to use
7.16of the stadium for professional football and must not include escape clauses or buyout
7.17provisions. The football team must not enter into or accept any agreement or requirement
7.18with or from the National Football League or any other entity that is inconsistent with
7.19the football team's binding commitment to the 40-year term of the lease or use agreement
7.20or that would in any manner dilute, interfere with, or negate the provisions of the lease
7.21or use agreement that includes a specific performance clause, providing for specific
7.22performance or injunctive relief. The legislature conclusively determines, as a matter of
7.23public policy, that the lease or use agreement, and any grant agreement under this chapter
7.24that includes a specific performance clause:
7.25(1) explicitly authorize specific performance as a remedy for breach;
7.26(2) are made for adequate consideration and upon terms which are otherwise fair
7.27and reasonable;
7.28(3) have not been included through sharp practice, misrepresentation, or mistake;
7.29(4) if specifically enforced, do not cause unreasonable or disproportionate hardship
7.30or loss to the football team or to third parties; and
7.31(5) involve performance in such a manner and the rendering of services of such
7.32a nature and under such circumstances that the beneficiary cannot be adequately
7.33compensated in damages.
7.34    Subd. 7. Lease or use agreements; revenues; payments. The commission must
7.35provide in the lease or use agreements with the football team that the football team pay
7.36for use of the stadium as follows: an amount to be determined by the commission in the
8.1first year, and an amount each year thereafter necessary to cover actual and projected
8.2operational costs. The commission must agree to provide for the football team to receive
8.3all game-day revenues, suite revenues, and proceeds from the sale of naming rights. The
8.4agreement must provide for the commission to receive all general ticket revenues from
8.5nonprofessional football games or events.
8.6    Subd. 8. Notice of breach or default. Until 40 years from the date of stadium
8.7completion, the football team must provide written notice to the commission not less than
8.890 days prior to any action, including any action imposed upon the football team by the
8.9National Football League, that would result in a breach or default of provisions of the
8.10lease or use agreements required to be included under this section. If this notice provision
8.11is violated and the football team has already breached or been in default under the required
8.12provisions, the commission or the state of Minnesota is authorized to specifically enforce
8.13the lease or use agreement and Minnesota courts are authorized and directed to fashion
8.14equitable remedies so that the football team may fulfill the conditions of the lease and use
8.15agreements including, but not limited to, remedies against the National Football League.
8.16    Subd. 9. Enforceable financial commitments. The commission must determine
8.17before stadium construction begins that all public and private funding sources for
8.18construction of the stadium are included in written agreements. The committed funds must
8.19be adequate to acquire, design, construct, furnish, and equip the stadium.
8.20    Subd. 10. Council and commission access to football team financial information.
8.21The lease or use agreement must provide the council and commission access to annual
8.22audited financial statements of the football team and other financial books and records that
8.23the council or commission deems necessary to determine compliance by the football team
8.24with sections 473.551 to 473.599, and to enforce the terms of any lease or use agreements
8.25entered into under sections 473.551 to 473.599. Any financial information obtained by the
8.26authority under this subdivision is nonpublic data under section 13.02, subdivision 9.
8.27    Subd. 11. Environmental planning and zoning. (a) The commission shall be the
8.28responsible governmental unit for any environmental impact statement for the football
8.29stadium prepared under section 116D.04. Notwithstanding section 116D.04, subdivision
8.302b, and implementing rules: (1) the environmental impact statement shall not be required
8.31to consider alternative football stadium sites; and (2) the environmental impact statement
8.32must be determined to be adequate before commencing work on the foundation of the
8.33football stadium, but the football stadium and public infrastructure may otherwise be
8.34started and all preliminary and final government decisions and actions may be made and
8.35taken, including but not limited to acquiring land, obtaining financing, granting permits
8.36or other land use approvals, entering into grant, lease, or use agreements, or preparing
9.1the site or related public infrastructure prior to a determination of the adequacy of the
9.2environmental impact statement.
9.3(b) In order to accomplish the objectives of sections 473.551 to 473.599 within
9.4the shortest possible time frame, it is necessary to establish an alternative process for
9.5municipal land use and development review. It is hereby found and declared that the
9.6construction of a football stadium within the development area is consistent with the
9.7adopted area plan, is the preferred football stadium location, and is a permitted land use.
9.8This subdivision establishes a procedure for all land use and development reviews and
9.9approvals by the municipality for the football stadium and public infrastructure and
9.10supersedes all land use and development rules and restrictions and procedures imposed
9.11by other law, charter, or ordinance, including without limitation section 15.99. No later
9.12than 30 days after enactment, the commission shall establish a stadium implementation
9.13committee to make recommendations on the design plans submitted for the stadium,
9.14public infrastructure and related improvements, including but not limited to street
9.15vacation, parking, roadways, walkways, skyways, pedestrian bridges, bicycle paths,
9.16transit improvements to facilitate public street access to the stadium and integration into
9.17the transportation plan for the municipality and the region, lighting, landscaping, utilities,
9.18streets, drainage, environmental remediation, and land acquired and prepared for private
9.19redevelopment in a manner related to the use of the football stadium. The implementation
9.20committee must take action to issue its recommendations within the time frames
9.21established in the planning and construction timetable issued by the commission which
9.22shall provide for no less than 60 days for the committee's review. The recommendations
9.23of the implementation committee shall be forwarded to the municipality's planning
9.24commission for an advisory recommendation and then to the municipality's governing
9.25body for final action in a single resolution, which final action must be taken within 45 days
9.26of the submission of the recommendations to the planning commission. The governing
9.27body of the municipality shall not impose any unnecessary or unreasonable conditions on
9.28the recommendations of the implementation committee, nor take any action or impose any
9.29conditions that will result in delay from the time frames established in the planning and
9.30construction timetable or in additional overall costs. Failure of the governing body to act
9.31within the 45-day period is deemed to be approval. The commission may seek de novo
9.32review in the district court of any city council action. The district court or any appellate
9.33court shall expedite review to the maximum extent possible and timely issue relief, orders,
9.34or opinions as necessary to give effect to the provisions and objectives in this article.
10.1    Subd. 12. No strikes; lockouts. The commission must negotiate a public sector
10.2project labor agreement or other agreement to prevent strikes and lockouts that would halt,
10.3delay, or impede construction of the stadium and related facilities.
10.4    Subd. 13. Football team name retained. The lease or use agreement must provide
10.5that the football team and National Football League will transfer to the state of Minnesota
10.6the Minnesota Vikings' heritage and records, including the name, logo, colors, history,
10.7playing records, trophies, and memorabilia in the event of any dissolution or relocation
10.8of the Vikings franchise.
10.9    Subd. 14. Public share on sale of team. The lease or use agreement must provide
10.10that, if the team is sold after the effective date of this article, a portion of the sale price
10.11must be paid to the commission and deposited in a reserve fund for improvements to the
10.12stadium or expended as the commission may otherwise direct. The portion required to
10.13be paid to the commission is 18 percent of the gross sale price, declining to zero ten
10.14years after commencement of stadium construction in increments of 1.8 percent each
10.15year. The agreement must provide exceptions for sales to members of the owner's family
10.16and entities and trusts beneficially owned by family members, sales to employees of
10.17equity interests aggregating up to ten percent, and sales related to capital infusions not
10.18distributed to the owners.
10.19    Subd. 15. Revenues; authority. The commission may identify user based nontax
10.20revenues to be assessed for nontax purposes that may be imposed under this subdivision
10.21to provide financing for the acquisition, construction, improvement, and operation of the
10.22stadium. The commission must deposit any nontax revenues raised under this subdivision
10.23in the stadium account, to be made available for the purpose of paying principal, premium,
10.24interest, escrows, reserves, and all fees and costs related to the bonds issued under this
10.25chapter.

10.26    Sec. 17. Minnesota Statutes 2008, section 473.5995, is amended by adding a
10.27subdivision to read:
10.28    Subd. 3. Account funds appropriated. All money in the stadium account is
10.29appropriated to the council to pay debt service on bonds issued by the council for the
10.30acquisition and betterment of a football stadium, as authorized in sections 473.5812 to
10.31473.5814. Money in this account may be pledged to the repayment of the debt.

10.32    Sec. 18. [473.5996] DEVELOPMENT PARTNERSHIP.
10.33The city of Minneapolis and the football team may enter into a development
10.34partnership in the area surrounding a new stadium, under the following conditions:
11.1(1) the city may use all existing development, financial, or other tools available to
11.2the city, including funds raised under Laws 1986, chapter 396, section 4, subdivision 3;
11.3(2) the development contract is written so as to require eventual repayment of public
11.4investments from any subsequent sale of land, businesses, or developments;
11.5(3) the development contract is limited to developments attached to, near, or related
11.6to the new stadium; and
11.7(4) the investment of the city, exclusive of public infrastructure improvements, land,
11.8and other necessary improvements agreed to in advance in the negotiated contract, shall
11.9be limited to the amount of $1.

11.10    Sec. 19. Laws 1986, chapter 396, section 4, subdivision 3, is amended to read:
11.11    Subd. 3. Use of property. Revenues received from the tax may only be used:
11.12    (1) to pay costs of collection;
11.13    (2) to pay or secure the payment of any principal of, premium or interest on bonds
11.14issued in accordance with this act;
11.15    (3) to pay costs to acquire, design, equip, construct, improve, maintain, operate,
11.16administer, or promote the convention center or related facilities, including financing
11.17costs related to them;
11.18(4) to pay capital or operating costs of a stadium designed for professional football,
11.19or for infrastructure and facilities related to a stadium designed for professional football,
11.20located in the city of Minneapolis;
11.21(5) to pay for the provision of police and fire protection service in the downtown
11.22taxing district;
11.23(6) to pay capital and operating costs of the Target Center, or to defease or retire
11.24outstanding debt issued for the Target Center;
11.25    (4) (7) to pay reasonable and appropriate costs determined by the city to replace
11.26housing removed from the site; and
11.27    (5) (8) to maintain reserves for the foregoing purposes deemed reasonable and
11.28appropriate by the city.
11.29In the event of any amendment to chapter 297A enacted subsequent to the effective date
11.30of this act which exempts sales or uses which were taxable under chapter 297A on the
11.31effective date of this act, the city may by ordinance extend the tax authorized hereby to
11.32any such sales or uses provided that the city council shall have determined that such
11.33extension is necessary to provide revenues for the uses to which taxes may be applied
11.34under this section and further provided that, in the estimation of the city council, the
11.35aggregate annual collections following such extension will not exceed the aggregate
12.1annual collections which would have been generated if chapter 297A, as in effect on the
12.2effective date of this act, were then in effect. Any revenue bonds issued in accordance
12.3with this act may, with the consent of the city council, contain a covenant that the tax will
12.4be so extended to the extent necessary to pay principal and interest on the bonds when due.
12.5    Money for replacement housing shall be made available by the city only for new
12.6construction, conversion of nonresidential buildings, and for rehabilitation of vacant
12.7residential structures, only if all of the units in the newly constructed building, converted
12.8nonresidential building, or rehabilitated residential structure are to be used for replacement
12.9housing.

12.10    Sec. 20. MINNESOTA STADIUM AUTHORITY.
12.11    Subdivision 1. Established. The Metropolitan Council shall serve as the Minnesota
12.12Stadium Authority to study and make recommendations for a plan for a new professional
12.13football stadium. The staff of the council shall provide administrative, technical, and
12.14research support to the authority. The authority is subject to Minnesota Statutes, chapters
12.1513 and 13D. The authority shall maintain a Web site to provide public information on all
12.16actions of the authority and to keep the public informed on meeting times, places, minutes,
12.17how to contact the authority, and inviting public participation and comment.
12.18    Subd. 2. Duties. The Minnesota Stadium Authority shall conduct hearings on
12.19the future stadium needs of the football team. The authority shall receive any plans or
12.20proposals for location of a stadium for the football team in a place outside of the city of
12.21Minneapolis. The authority shall determine, by January 15, 2011, whether the city of
12.22Minneapolis has produced the best possible plan for location of a stadium for the football
12.23team, and if that plan is prepared to be implemented. If the authority determines that a
12.24different plan or proposal offers superior benefits to the football team and the state, the
12.25authority shall prepare legislation to enact that plan or proposal.
12.26    Subd. 3. End of duties. The authority shall cease operation upon completion of a
12.27stadium plan which is fully funded and prepared to begin construction.

12.28    Sec. 21. EFFECTIVE DATE.
12.29Sections 1 to 20 are effective the day following final enactment.