SF 523

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

A bill for an act
relating to capital improvements; appropriating money
for capital improvements at the Minnesota Zoological
Garden; authorizing the sale of state bonds; amending
Laws 1994, chapter 643, section 27, subdivision 2, as
amended.

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

Section 1. new text begin MINNESOTA ZOOLOGICAL GARDEN APPROPRIATION.
new text end

new text begin $52,200,000 is appropriated from the bond proceeds fund to
the Minnesota Zoological Board to design, construct, furnish,
and equip improvements of a capital nature at the Minnesota
Zoological Garden, consistent with the facilities and business
master plan.
new text end

new text begin $10,000,000 is appropriated from the bond proceeds fund to
the Minnesota Zoological Board for capital asset preservation
improvements and betterments to roofs, mechanical and utility
systems, roads and pathways, building envelopes, storm water
systems, exhibits, and safety and code compliance upgrades.
new text end

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

new text begin To provide the money appropriated in this act from the bond
proceeds fund, the commissioner of finance shall sell and issue
bonds of the state in an amount up to $62,200,000 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

Sec. 3.

Laws 1994, chapter 643, section 27, subdivision 2,
as amended by Laws 1996, chapter 463, section 54, is amended to
read:

Subd. 2.

Marine Education Center 20,500,000

To design, construct, furnish, and
equip a marine education center and
related visitor improvements at the
zoo. This appropriation is intended to
complete the project.

All of the debt service costs on the
bonds sold to finance this project that
are due and payable before fiscal year
1998 must be paid from dedicated
receipts of the Minnesota zoological
garden to the commissioner of finance
as required by Minnesota Statutes,
section 16A.643. Beginning in fiscal
year 1998, 60 percent of the debt
service costs on the bonds sold to
finance this project must be paid from
dedicated receipts of the Minnesota
zoological garden to the commissioner
of finance as required by Minnesota
Statutes, section 16A.643. new text begin Beginning
in fiscal year 2005, none of the debt
service costs on the bonds sold to
finance this project need be paid from
dedicated receipts of the Minnesota
Zoological Garden.
new text end

The board may not institute an
admission fee increase before April 1,
2000.

Sec. 4. new text begin EFFECTIVE DATE.
new text end

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