as introduced - 90th Legislature (2017 - 2018) Posted on 02/10/2017 09:30am
A bill for an act
relating to capital investment; appropriating money for the historic Hennepin
Center for the Arts; authorizing the sale and issuance of state bonds.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA:
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$7,000,000 is appropriated from the bond proceeds fund
to the commissioner of employment and economic development for a grant to Hennepin
County for improvements and betterments of a capital nature to renovate the historic
Hennepin Center for the Arts, subject to Minnesota Statutes, section 16A.695. This
appropriation is not available until the commissioner of management and budget determines
that $3,000,000 has been committed to complete the project from nonstate sources.
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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 $7,000,000 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.
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This section is effective the day following final enactment.
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