Purpose

The bill would provide state funding for a new indoor recreational facility in North Mankato. It appropriates $12,750,000 from the bond proceeds fund to the commissioner of employment and economic development to grant to the city of North Mankato. The grant is for predesign, design, construction, furnishing, and equipping an indoor recreational facility at the Caswell Regional Sporting Complex.

Main Provisions

• Appropriation: $12,750,000 from the bond proceeds fund allocated to a grant to the city of North Mankato.
• Project scope: The funds are to predesign, design, construct, furnish, and equip an indoor recreational facility at the Caswell Regional Sporting Complex.
• Bond financing: The state will sell and issue bonds up to $12,750,000 to fund the appropriation.
• Legal authority: Bond issuance and use of funds must follow Minnesota Statutes sections 16A.631 to 16A.675 and the Minnesota Constitution, Article XI, sections 4 to 7.

Financing and Legal Details

• Source of funds: bond proceeds fund.
• Financing mechanism: sale of state bonds (debt financing) to support the local project.
• Compliance: Uses established bond-issuance procedures and constitutional authority.

Significance and Potential Impact

• This is a capital investment intended to expand local recreation infrastructure.
• It provides a grant to North Mankato for a new indoor facility at a regional sporting complex, which could affect local recreation options, job creation, and regional activity options.
• It represents a new appropriation and debt authority to fund the project; no other existing programs are described as being amended, but the bill would add this new bonding and appropriation.

Significant Changes to Existing Law

• Introduces a new appropriation of $12.75 million for North Mankato’s indoor facility.
• Authorizes the sale of state bonds up to $12.75 million to finance the appropriation.
• Relies on existing statutory and constitutional bonding frameworks (Minnesota Statutes 16A.631–16A.675 and Constitution Article XI).

Relevant Terms - appropriation - bond proceeds fund - grant - North Mankato - indoor recreational facility - Caswell Regional Sporting Complex - predesign - design - construct - furnish - equip - bond sale / sale of bonds - Minnesota Statutes 16A.631 to 16A.675 - Minnesota Constitution Article XI, sections 4–7 - capital investment