HF1972

Purpose

The purpose of this bill is to fund the construction and development of a community center in the city of Breckenridge, Minnesota. This initiative is aimed at enhancing community infrastructure and providing a social and recreational hub for local residents.

Main Provisions

• Appropriation of Funds: The bill allocates $7,300,000 from the bond proceeds fund to the commissioner of employment and economic development. This grant is specifically earmarked for the city of Breckenridge to design, construct, furnish, and equip a new community center.

• Lease or Management Agreements: The city of Breckenridge is allowed to enter into lease or management agreements for the operation of the community center. This is compliant with Minnesota Statutes section 16A.695, which provides guidelines for such agreements.

Bond Sale Authorization

• Issuance of Bonds: To raise the necessary funds, the bill authorizes the commissioner of management and budget to sell and issue state bonds totaling up to $7,300,000. This process will adhere to the terms and requirements set out in Minnesota Statutes sections 16A.631 to 16A.675 and specific provisions of the Minnesota Constitution.

Significant Changes

This bill represents the allocation of a substantial state investment toward local infrastructure improvements. It does not amend existing laws but operates within the framework of current Minnesota statutes pertaining to bond issuance and project funding.

Relevant Terms

• Community Center
• Bond proceeds fund
• State bonds
• Appropriation
• Lease agreement
• Management agreement
• Commissioner of employment and economic development
• Commissioner of management and budget