SF961

Purpose

Provide funding for the Minnesota Latino Museum in St. Paul by using state bond money. The bill authorizes a grant funded from bond proceeds to support the museum’s property acquisition, design, construction, furnishing, and equipping.

Key Provisions

• Amount and source: Appropriates $10,000,000 from the bond proceeds fund.
• Recipient and purpose: Funds go to the City of St. Paul (through the commissioner of employment and economic development) as a grant to the Minnesota Latino Museum to acquire property and to design, construct, furnish, and equip the museum.
• Location: Museum site at 85 West Water Street on Harriet Island in St. Paul.
• Operations: The city may enter into a lease or management agreement to operate the museum, subject to Minnesota law (specifically 16A.695).
• Bond issuance: The commissioner of management and budget must sell and issue state bonds up to $10,000,000 to provide the funds.
• Legal framework: Bond issuance and terms must follow Minnesota Statutes 16A.631 to 16A.675 and the Minnesota Constitution (Article XI, sections 4 to 7).

Financial and Bond Details

• Source of funds: Bond proceeds fund.
• Issuing authority: Minnesota Department of Management and Budget (for bond sale) and the Department of Employment and Economic Development (for the grant to the city).
• Estimated debt: Up to $10,000,000 in bonds.
• Statutory and constitutional authorities: Uses the specified sections of Minnesota Statutes and Constitution for bond terms and sale.

Operational Oversight and Administration

• Management and operation: The city may lease or manage the museum, with oversight under state statute 16A.695.
• Administration of funds: DEED administers the grant to the city; bond issuance follows the specified statutory framework.

Significant Changes to Law

• Creates a new capital investment project funding for a cultural museum in St. Paul.
• Enables state debt issuance (up to $10 million) to support property acquisition, construction, and setup of the Minnesota Latino Museum.
• Establishes a framework for a lease or management arrangement to operate the museum, aligning with existing state laws on public facilities and management.

Relevant Terms bond proceeds fund, appropriation, grant, City of St. Paul, Minnesota Latino Museum, acquire property, design, construct, furnish, equip, 85 West Water Street, Harriet Island, lease or management agreement, Minnesota Statutes § 16A.695, Commissioner of Management and Budget, sale and issue bonds, up to $10,000,000, Minnesota Statutes §§ 16A.631 to 16A.675, Minnesota Constitution Article XI §§ 4-7, DEED (Department of Employment and Economic Development).