SF 2148

as introduced - 85th Legislature (2007 - 2008) Posted on 12/15/2009 12:00am

A bill for an act
relating to capital investment; appropriating money for an indoor ice arena in the
city of Badger; authorizing the issuance of general obligation bonds.

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

Section 1. new text begin CITY OF BADGER; INDOOR ICE ARENA.
new text end

new text begin Subdivision 1. new text end

new text begin Appropriation. new text end

new text begin $167,750 is appropriated from the bond proceeds
fund to the Minnesota Amateur Sport Commission for a grant to the city of Badger to
construct an indoor ice arena. This appropriation is not available until the commissioner of
finance determines that at least an equal amount is committed to the project from nonstate
sources. The city may enter into a lease or management agreement for the operation of
the arena, subject to Minnesota Statutes, section 16A.695.
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 by subdivision 1 from the
bond proceeds fund, the commissioner of finance shall sell and issue bonds of the state in
an amount up to $167,750 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

new text begin EFFECTIVE DATE. new text end

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