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Minnesota Legislature

Office of the Revisor of Statutes

SF 649

as introduced - 91st Legislature (2019 - 2020) Posted on 01/31/2019 02:47pm

KEY: stricken = removed, old language.
underscored = added, new language.

Current Version - as introduced

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A bill for an act
relating to capital investment; appropriating money for renovation and expansion
of the International Institute of Minnesota; authorizing the sale and issuance of
state bonds.

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

Section 1. new text beginINTERNATIONAL INSTITUTE OF MINNESOTA.
new text end

new text begin Subdivision 1. new text end

new text begin Appropriation. new text end

new text begin $5,500,000 is appropriated from the bond proceeds fund
to the commissioner of employment and economic development for a grant to the city of
St. Paul to renovate and expand the International Institute of Minnesota. This project includes
remediation of contaminated soil, renovation of the existing building, construction of an
addition to the building, and furnishing and equipping the renovated and expanded facility.
This appropriation is not available until the commissioner of management and budget
determines that at least an equal amount has been committed to complete the project from
nonstate sources. Amounts spent before the effective date of this subdivision for acquisition
of real property, environmental testing and remediation, predesign, and design count towards
the nonstate contribution.
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 $5,500,000 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