1.1 	A bill for an act
1.2 	relating to capital investment; appropriating money for the Sheldon Theatre in 
1.3 	Red Wing; authorizing the sale and issuance of state bonds.
1.4 	BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA:

1.5 	Section 1. RED WING; SHELDON THEATRE.
 1.6 		Subdivision 1.Appropriation. $612,000 is appropriated from the bond proceeds 
1.7 	fund to the commissioner of employment and economic development for a grant to the city 
1.8 	of Red Wing to design, construct, furnish, and equip the renovation of the Sheldon Theatre.
1.9 	This appropriation is available when the commissioner of management and budget 
1.10 	determines that at least an equal amount has been committed to the project from nonstate 
1.11 	sources.
1.12 		Subd. 2.Bond sale. To provide the money appropriated in this section from the 
1.13 	bond proceeds fund, the commissioner of management and budget shall sell and issue 
1.14 	bonds of the state in an amount up to $612,000 in the manner, upon the terms, and with 
1.15 	the effect prescribed by Minnesota Statutes, sections 16A.631 to 16A.675, and by the 
1.16 	Minnesota Constitution, article XI, sections 4 to 7.

1.17 	EFFECTIVE DATE. This section is effective the day following final enactment.