SF 2420

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

  1.1                          A bill for an act 
  1.2             relating to capital improvements; appropriating money 
  1.3             to create the Minnesota Shubert Center in the city of 
  1.4             Minneapolis; authorizing the sale of state bonds. 
  1.5   BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA: 
  1.6      Section 1.  [MINNESOTA SHUBERT CENTER.] 
  1.7      Subdivision 1.  [APPROPRIATION.] $10,000,000 is 
  1.8   appropriated from the bond proceeds fund to the commissioner of 
  1.9   administration for a grant to the city of Minneapolis to 
  1.10  renovate the Shubert Theater and Hennepin Center for the Arts 
  1.11  and to construct, furnish, and equip additional theater space 
  1.12  and an associated atrium to create the Minnesota Shubert 
  1.13  Center.  The city of Minneapolis may enter into a lease or 
  1.14  management agreement to operate the center, subject to Minnesota 
  1.15  Statutes, section 16A.695.  
  1.16     This appropriation is not available until the commissioner 
  1.17  has determined that at least $24,000,000 has been committed from 
  1.18  nonstate sources.  
  1.19     Subd. 2.  [BOND SALE.] To provide the money appropriated in 
  1.20  this act from the bond proceeds fund, the commissioner of 
  1.21  finance shall sell and issue bonds of the state in an amount up 
  1.22  to $10,000,000 in the manner, upon the terms, and with the 
  1.23  effect prescribed by Minnesota Statutes, sections 16A.631 to 
  1.24  16A.675, and by the Minnesota Constitution, article XI, sections 
  1.25  4 to 7. 
  2.1      Sec. 2.  [EFFECTIVE DATE.] 
  2.2      This act is effective the day following final enactment.