Minnesota Session Laws - 2007, Regular Session

CHAPTER 91--S.F.No. 54

An act

relating to economic development; dissolving the Hibbing Area Redevelopment Agency; transferring assets and liabilities to the Hibbing Economic Development Authority.

BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA:

Section 1.

new text begin DISSOLUTION AND DISCONTINUANCE OF HIBBING AREA REDEVELOPMENT AGENCY. new text end

new text begin Subdivision 1. new text end

new text begin Dissolution. new text end

new text begin The Hibbing Area Redevelopment Agency is dissolved and discontinued. new text end

new text begin Subd. 2. new text end

new text begin Transfer of assets. new text end

new text begin The assets of the Hibbing Area Redevelopment Agency are transferred to the Hibbing Economic Development Authority by deed to be signed by the president and secretary of the Hibbing Area Redevelopment Agency. new text end

new text begin Subd. 3. new text end

new text begin Assumption of debts and obligations. new text end

new text begin After acceptance of the deed, the Hibbing Economic Development Authority shall assume any and all of the obligations and debts of the Hibbing Area Redevelopment Agency. new text end

new text begin EFFECTIVE DATE. new text end

new text begin This section is effective the day after the city council for the city of Hibbing and its chief clerical officer timely complete compliance with Minnesota Statutes, section 645.021, subdivisions 2 and 3. new text end

Presented to the governor May 17, 2007

Signed by the governor May 21, 2007, 1:28 p.m.