Bill Text: MN HF1504 | 2011-2012 | 87th Legislature | Introduced
Bill Title: Minneapolis; Peavey Plaza redevelopment funding provided, bonds issued, and money appropriated.
Sponsorship: Partisan Bill (Democrat 4)
Status: (Introduced - Dead) 2011-04-18 - Introduction and first reading, referred to Jobs and Economic Development Finance [HF1504 Detail]
Download: Minnesota-2011-HF1504-Introduced.html
1.2relating to capital investment; appropriating money for redevelopment of Peavey
1.3Plaza in Minneapolis; authorizing the sale and issuance of state bonds.
1.4BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA:
1.5 Section 1. MINNEAPOLIS; PEAVEY PLAZA.
1.6 Subdivision 1. Appropriation. $6,000,000 is appropriated from the bond proceeds
1.7fund to the commissioner of employment and economic development for a grant to the
1.8city of Minneapolis to develop and construct the redevelopment of Peavey Plaza in
1.9Minneapolis, in conjunction with the renovation of Orchestra Hall. This appropriation is
1.10added to the appropriation in Laws 2010, chapter 189, section 21, subdivision 11. This
1.11appropriation is not available until the commissioner has determined that at least an equal
1.12amount has been committed to the project from nonstate sources.
1.13 Subd. 2. Bond sale. To provide the money appropriated in this section from the
1.14bond proceeds fund, the commissioner of management and budget shall sell and issue
1.15bonds of the state in an amount up to $6,000,000 in the manner, upon the terms, and with
1.16the effect prescribed by Minnesota Statutes, sections 16A.631 to 16A.675, and by the
1.17Minnesota Constitution, article XI, sections 4 to 7.
1.18EFFECTIVE DATE.This section is effective the day following final enactment.
1.3Plaza in Minneapolis; authorizing the sale and issuance of state bonds.
1.4BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA:
1.5 Section 1. MINNEAPOLIS; PEAVEY PLAZA.
1.6 Subdivision 1. Appropriation. $6,000,000 is appropriated from the bond proceeds
1.7fund to the commissioner of employment and economic development for a grant to the
1.8city of Minneapolis to develop and construct the redevelopment of Peavey Plaza in
1.9Minneapolis, in conjunction with the renovation of Orchestra Hall. This appropriation is
1.10added to the appropriation in Laws 2010, chapter 189, section 21, subdivision 11. This
1.11appropriation is not available until the commissioner has determined that at least an equal
1.12amount has been committed to the project from nonstate sources.
1.13 Subd. 2. Bond sale. To provide the money appropriated in this section from the
1.14bond proceeds fund, the commissioner of management and budget shall sell and issue
1.15bonds of the state in an amount up to $6,000,000 in the manner, upon the terms, and with
1.16the effect prescribed by Minnesota Statutes, sections 16A.631 to 16A.675, and by the
1.17Minnesota Constitution, article XI, sections 4 to 7.
1.18EFFECTIVE DATE.This section is effective the day following final enactment.
