Purpose

This bill provides state money to help improve the Edina Aquatic Center by funding capital projects and authorizing the sale of state bonds to pay for those improvements.

Main Provisions

• Appropriation: $10.5 million is allocated from the bond proceeds fund to the commissioner of employment and economic development to grant to the City of Edina for capital improvements at the Edina Aquatic Center.
• Scope of improvements: Projects may include preserving or replacing mechanical and electrical systems, upgrading utility infrastructure, and site renovations to support ongoing operations, including improvements that save energy.
• Bond financing: The same $10.5 million is to be provided by selling state bonds. The sale must follow the terms set in Minnesota law (statutes 16A.631 to 16A.675) and the Minnesota Constitution (Article XI, sections 4 to 7).

Funding and Financing Details

• Source of funds: Bond proceeds fund.
• Recipient: City of Edina (via a state grant managed by the Department of Employment and Economic Development).
• Financing terms: Bonds will be issued up to the amount of $10.5 million under existing state bonding rules and constitutional authority.

Legal and Administrative References

• Related statutes: Minnesota Statutes sections 16A.631 to 16A.675.
• Constitutional authority: Minnesota Constitution Article XI, sections 4 to 7.
• Administrating bodies: Commissioner of Employment and Economic Development; Commissioner of Management and Budget.

Significant Changes to Existing Law

• This bill does not change Minnesota law. It creates a new appropriation and authorizes a bond sale to fund the Edina Aquatic Center improvements, using existing bonding processes and statutory rules.

Summary in Plain Terms

• The state would lend money (through bonds) to Edina to upgrade the Edina Aquatic Center.
• The improvements cover big-ticket items like mechanical/electrical systems, utility infrastructure, and site work, and also include energy-saving improvements.
• The money would come from selling state bonds, following current Minnesota bonding laws and constitutional authority.

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