SF 2553

as introduced - 79th Legislature (1995 - 1996) Posted on 12/15/2009 12:00am

  1.1                          A bill for an act 
  1.2             relating to capital improvements; appropriating money 
  1.3             for an urban sports facility; authorizing the sale of 
  1.4             state bonds. 
  1.5   BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA: 
  1.6      Section 1.  [URBAN SPORTS FACILITY.] 
  1.7      (a) $4,100,000 is appropriated from the bond proceeds fund 
  1.8   to the Minnesota amateur sports commission for an urban sports 
  1.9   facility. 
  1.10     (b) This appropriation is contingent on the following: 
  1.11     (1) the city of Minneapolis, the Minneapolis community 
  1.12  development agency, special school district No. 1, Minneapolis, 
  1.13  or a nonprofit entity has provided a site for the facility at no 
  1.14  cost to the commission.  The site may be leased to the 
  1.15  commission, but the lease must be for a term of not less than 20 
  1.16  years; 
  1.17     (2) the commission has determined that matching money in 
  1.18  the amount of not less than $8,000,000 has been committed by 
  1.19  nonstate sources for construction at the same location of an 
  1.20  integrated community facility with a day care center, a 
  1.21  natatorium, and other sports facilities to be owned and operated 
  1.22  by a nonprofit entity and providing sports and community 
  1.23  programming for urban at-risk youth; and 
  1.24     (3) the nonprofit entity has agreed to manage and operate 
  1.25  the sports facility for the commission and to pay all operating 
  2.1   expenses at no cost to the commission under a management 
  2.2   agreement, complying with the requirements of Minnesota 
  2.3   Statutes, section 16A.695, approved by the commission for a term 
  2.4   of not less than 20 years. 
  2.5      Sec. 2.  [BOND SALE.] 
  2.6      To provide the money appropriated in this act from the 
  2.7   state bond proceeds fund, the commissioner of finance, on 
  2.8   request of the governor, shall sell and issue bonds of the state 
  2.9   in an amount up to $4,100,000 in the manner, upon the terms, and 
  2.10  with the effect prescribed by Minnesota Statutes, sections 
  2.11  16A.631 to 16A.675, and by the Minnesota Constitution, article 
  2.12  XI, sections 4 to 7. 
  2.13     Sec. 3.  [EFFECTIVE DATE.] 
  2.14     This act is effective the day following final enactment.