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HF 1651

as introduced - 86th Legislature (2009 - 2010) Posted on 02/09/2010 01:53am

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

Bill Text Versions

Engrossments
Introduction Posted on 03/11/2009

Current Version - as introduced

Line numbers 1.1 1.2 1.3 1.4 1.5
1.6 1.7 1.8 1.9 1.10 1.11 1.12 1.13
1.14 1.15 1.16 1.17 1.18
1.19 1.20 1.21 1.22 2.1 2.2 2.3
2.4 2.5

A bill for an act
relating to capital improvements; appropriating money for the city of Spring
Valley for a new community theater facility; authorizing the sale and issuance of
state bonds.

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

Section 1. new text beginAPPROPRIATION; CITY OF SPRING VALLEY BRAVE
COMMUNITY THEATER.
new text end

new text begin $....... is appropriated from the bond proceeds fund to the commissioner of
employment and economic development for a grant to the city of Spring Valley to
preserve Minnesota's history and cultural heritage by acquiring land for and predesigning,
designing, constructing, furnishing, and equipping the Brave Community Theater in the
city. The city may enter into a lease or management agreement for this project, subject
to Minnesota Statutes, section 16A.695.
new text end

Sec. 2. new text beginBOND SALE.
new text end

new text begin To provide the money appropriated in section 1 from the bond proceeds fund, the
commissioner of finance shall sell and issue bonds of the state in an amount up to $....... 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

Sec. 3. new text beginDEBT SERVICE.
new text end

new text begin The amount necessary to pay the debt service on the bonds issued in section 2
is annually appropriated from the arts and cultural heritage fund under the Minnesota
Constitution, article XI, section 15, to the commissioner of finance for transfer to the
bond debt service account in the state bond fund. The commissioner of finance shall
determine the debt service amount required by this section as provided in Minnesota
Statutes, section 16A.643.
new text end

Sec. 4. new text beginEFFECTIVE DATE.
new text end

new text begin Sections 1 to 3 are effective the day following final enactment.
new text end