1.1 	A bill for an act
1.2 	relating to bonding; municipal bonds; modifying law relating to youth ice 
1.3 	facilities;amending Minnesota Statutes 2010, section 475.58, subdivision 3a.
1.4 	BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA:

1.5 	Section 1. Minnesota Statutes 2010, section 475.58, subdivision 3a, is amended to read:
1.6 		Subd. 3a.~~Youth ice~~ Recreational facilities. A municipality may, without regard to 
1.7 	the election requirement under subdivision 1 or under any other provision of law or home 
1.8 	rule charter, issue and sell obligations to ~~refund existing debt of an indoor ice arena~~ finance 
1.9 	the acquisition, improvement, construction, or renovation of a recreational facility that is 
1.10 	used predominantly for youth athletic activity if all the following conditions are met:
1.11 	(1) the obligations are secured by a pledge of revenues from the facility; and
1.12 	(2) the governing body of the municipality finds, based on analysis provided by a 
1.13 	professional experienced in finance, that the facility's revenues and other available money 
1.14 	will be sufficient to pay the obligations, without reliance on ~~a~~ an additional property tax 
1.15 	levy or the municipality's general purpose state aid.