SF 5228

as introduced - 93rd Legislature (2023 - 2024) Posted on 04/03/2024 11:13am

A bill for an act
relating to capital investment; appropriating money to redevelop the auditorium
of the former Sandstone School in the city of Sandstone; authorizing the sale and
issuance of state bonds.

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

Section 1. new text begin SANDSTONE ECONOMIC DEVELOPMENT AUTHORITY;
SANDSTONE SCHOOL AUDITORIUM.
new text end

new text begin Subdivision 1. new text end

new text begin Appropriation. new text end

new text begin $1,979,000 is appropriated from the bond proceeds fund
to the commissioner of employment and economic development for a grant to the economic
development authority of the city of Sandstone to predesign, design, construct, furnish, and
equip the redevelopment of the auditorium of the former Sandstone School for use as a
history and art center, 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 $1,979,000 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