HF 4511

as introduced - 92nd Legislature (2021 - 2022) Posted on 03/23/2022 10:39am

A bill for an act
relating to capital investment; appropriating money for a regional sports complex
in Sauk Rapids; authorizing the sale and issuance of state bonds.

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

Section 1. SAUK RAPIDS; SPORTS COMPLEX.

Subdivision 1.

Appropriation.

$10,000,000 is appropriated from the bond proceeds
fund to the commissioner of employment and economic development for a grant to the city
of Sauk Rapids to design, engineer, construct, furnish, and equip a regional sports complex
facility within the Mayhew Creek Park site, adjacent to school district property.

Subd. 2.

Bond sale.

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 $10,000,000 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.

EFFECTIVE DATE.

This section is effective the day following final enactment.