SF 2213

as introduced - 83rd Legislature (2003 - 2004) Posted on 12/15/2009 12:00am

  1.1                          A bill for an act 
  1.2             relating to finance; forgiving debt service on bonds 
  1.3             sold to finance the Marine Education Center at the 
  1.4             Minnesota Zoological Garden; amending Laws 1994, 
  1.5             chapter 643, section 27, subdivision 2, as amended. 
  1.6   BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA: 
  1.7      Section 1.  Laws 1994, chapter 643, section 27, subdivision 
  1.8   2, as amended by Laws 1996, chapter 463, section 54, is amended 
  1.9   to read: 
  1.10  Subd. 2.  Marine Education Center                    20,500,000
  1.11  To design, construct, furnish, and 
  1.12  equip a marine education center and 
  1.13  related visitor improvements at the 
  1.14  zoo.  This appropriation is intended to 
  1.15  complete the project.  
  1.16  All of the debt service costs on the 
  1.17  bonds sold to finance this project that 
  1.18  are due and payable before fiscal year 
  1.19  1998 must be paid from dedicated 
  1.20  receipts of the Minnesota zoological 
  1.21  garden to the commissioner of finance 
  1.22  as required by Minnesota Statutes, 
  1.23  section 16A.643.  Beginning in fiscal 
  1.24  year 1998, 60 percent of the debt 
  1.25  service costs on the bonds sold to 
  1.26  finance this project must be paid from 
  1.27  dedicated receipts of the Minnesota 
  1.28  zoological garden to the commissioner 
  1.29  of finance as required by Minnesota 
  1.30  Statutes, section 16A.643.  Beginning 
  1.31  in fiscal year 2005, none of the debt 
  1.32  service costs on the bonds sold to 
  1.33  finance this project need be paid from 
  1.34  dedicated receipts of the Minnesota 
  1.35  Zoological Garden. 
  1.36  The board may not institute an 
  1.37  admission fee increase before April 1, 
  1.38  2000. 
  2.1      Sec. 2.  [EFFECTIVE DATE.] 
  2.2      This act is effective the day following final enactment.