Purpose

To authorize a state grant and bond funding for capital improvements at the Edina Aquatic Center. The bill designates money from bond proceeds to support major renovations and updates to the facility, helping to maintain operations and improve efficiency.

Main Provisions

• Appropriation of funds: $10,500,000 is appropriated from the bond proceeds fund to the commissioner of employment and economic development for a grant to the city of Edina. The purpose is capital improvements at the Edina Aquatic Center.
• Types of improvements: The projects may include preserving or replacing mechanical systems, electrical systems, utility infrastructure, and site renovations needed to support ongoing operations. Energy conservation improvements are specifically included.
• Bond issuance: To fund the appropriation, the commissioner of management and budget must sell and issue up to $10,500,000 in state bonds, under the terms and effects established by Minnesota law (statutes 16A.631 to 16A.675) and the Minnesota Constitution (Article XI, sections 4 to 7).

Funding and Authority Details

• Source of funds: The bond proceeds fund is designated to finance the grant to Edina for the specified capital improvements.
• Oversight: The bond sale and the grant are subject to existing state debt and bonding procedures and constitutional requirements.

Significant Changes to Existing Law

• Establishes a new targeted appropriation and debt authority for a specific project (Edina Aquatic Center) rather than broad, general funding.
• Creates a direct link between debt issuance (bonds) and a grant to a city for capital improvements, governed by existing bonding statutes and constitutional provisions.

Implementation Notes

• The grant is administered through the designated state department (department of employment and economic development) for the Edina project.
• The project scope includes energy efficiency improvements as part of the capital upgrades.

Relevant Terms Edina Aquatic Center, appropriation, bond proceeds fund, grant, city of Edina, capital improvements, mechanical systems, electrical systems, utility infrastructure, site renovations, energy conservation improvements, capital investment, bonds, bond sale, Commissioner of Management and Budget, Commissioner of Employment and Economic Development, Minnesota Statutes 16A.631 to 16A.675, Minnesota Constitution Article XI sections 4 to 7.