SF 3412

as introduced - 91st Legislature (2019 - 2020) Posted on 02/20/2020 03:25pm

A bill for an act
relating to capital investment; appropriating money for the community and aquatics
center in Moorhead; authorizing the sale and issuance of state bonds.

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

Section 1. new text begin MOORHEAD; COMMUNITY AND AQUATICS CENTER.
new text end

new text begin Subdivision 1. new text end

new text begin Appropriation. new text end

new text begin $9,500,000 is appropriated from the bond proceeds fund
to the commissioner of employment and economic development for a grant to the city of
Moorhead for the community and aquatics center project in the city of Moorhead. Of this
amount, $1,500,000 is for the predesign and design and does not require a nonstate
contribution. Of this amount, $8,000,000 is to acquire land, construct, furnish, and equip
the center and is not available until the commissioner of management and budget determines
that at least $6,215,000 has been committed from nonstate sources to complete the project.
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 $9,500,000 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