HF 4523

as introduced - 93rd Legislature (2023 - 2024) Posted on 03/04/2024 02:29pm

A bill for an act
relating to capital investment; appropriating money for Phase 3 of the Quarry
Redevelopment Project in the city of Waite Park; authorizing the sale and issuance
of state bonds.

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

Section 1. new text begin WAITE PARK; QUARRY REDEVELOPMENT PHASE 3.
new text end

new text begin Subdivision 1. new text end

new text begin Appropriation. new text end

new text begin $5,500,000 is appropriated from the bond proceeds fund
to the commissioner of employment and economic development for a grant to the city of
Waite Park to predesign, design, construct, furnish, and equip Phase 3 of the Quarry
Redevelopment Project, to include improvements and enhancements of a capital nature to
the public open-air stage and related facilities. This appropriation is available when the
commissioner of management and budget determines that an amount sufficient to complete
the project has been committed to the project, as required by Minnesota Statutes, section
16A.502.
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 $5,500,000 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