SF 304

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

A bill for an act
relating to capital investment; appropriating money
for a hockey arena at Bemidji State University;
authorizing the issuance of state general obligation
bonds.

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

Section 1. new text begin APPROPRIATION; AMATEUR SPORTS COMMISSION;
BEMIDJI STATE UNIVERSITY HOCKEY ARENA.
new text end

new text begin $19,553,400 is appropriated from the bond proceeds fund to
the Minnesota Amateur Sports Commission to design, construct,
furnish, and equip a hockey arena on the campus of Bemidji State
University. The appropriation is not available until the
commissioner of finance determines that an agreement has been
executed between the Minnesota Amateur Sports Commission and the
Board of Trustees permitting the commission to build the arena
on the campus and detailing the rights and responsibilities of
the commission and the Board of Trustees for this project.
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 $19,553,400 in the
manner, on 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