SF 4098

as introduced - 90th Legislature (2017 - 2018) Posted on 05/18/2018 08:35am

A bill for an act
relating to capital investment; appropriating money for improvements to the Hoyt
Lakes ice arena; authorizing the sale and issuance of state bonds.

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

Section 1. new text begin ICE ARENA IMPROVEMENTS; HOYT LAKES.
new text end

new text begin Subdivision 1. new text end

new text begin Appropriation. new text end

new text begin $1,300,000 is appropriated from the bond proceeds fund
to the commissioner of employment and economic development for a grant to the city of
Hoyt Lakes for capital improvements to the ice arena, including replacement of the ice plant,
ice floor systems, pipes, and related infrastructure to comply with federally mandated
requirements for replacement of systems using R-22 as a refrigerant. This appropriation is
available when the commissioner of management and budget determines that sufficient
resources have been committed to complete the project, as required by Minnesota Statutes,
section 16A.502.
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 in this section from the bond
proceeds fund, the commissioner of management and budget shall sell and issue bonds of
the state in an amount up to $1,300,000 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

new text begin EFFECTIVE DATE. new text end

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