SF 4369

as introduced - 93rd Legislature (2023 - 2024) Posted on 02/29/2024 04:40pm

A bill for an act
relating to capital investment; appropriating money for The Main Cinema in the
city of Minneapolis; authorizing the sale and issuance of state bonds.

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

Section 1. new text begin MINNEAPOLIS; THE MAIN CINEMA.
new text end

new text begin Subdivision 1. new text end

new text begin Appropriation. new text end

new text begin $3,500,000 is appropriated from the bond proceeds fund
to the commissioner of employment and economic development for a grant to the city of
Minneapolis for predesign, design, renovation, furnishing, and equipping of The Main
Cinema building, a venue for international and independent cinema, including the
Minneapolis St. Paul International Film Festival, other film festivals and series, and daily
programming 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 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 $3,500,000 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