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SF 3146

as introduced - 91st Legislature (2019 - 2020) Posted on 02/13/2020 04:31pm

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 the Polos Building in St.
James; authorizing the sale and issuance of state bonds.

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

Section 1. new text beginPOLOS BUILDING RENOVATION, ST. JAMES.
new text end

new text begin Subdivision 1. new text end

new text begin Appropriation. new text end

new text begin $126,000 is appropriated from the bond proceeds fund
to the commissioner of employment and economic development for a grant to the city of
St. James to demolish portions of the Polos Building and to predesign, design, construct,
furnish, and equip a new building that incorporates portions of the Polos Building in the
city of St. James to create an economic development and community center. This
appropriation is available when the commissioner of management and budget determines
that $124,000 has been committed to complete the project, including the amount spent by
the city of St. James and Watonwan County to demolish portions of the Polos Building.
The city of St. James may enter into a lease or management agreement for the facility or
parts of the facility under 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 $126,000 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