1.1 	A bill for an act
1.2 	relating to capital investment; appropriating money for the Upper Mississippi 
1.3 	Center for the Arts; authorizing the sale and issuance of state bonds.
1.4 	BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA:

1.5 	Section 1. UPPER MISSISSIPPI CENTER FOR THE ARTS.
 1.6 		Subdivision 1.Appropriation. $4,000,000 is appropriated from the bond proceeds 
1.7 	fund to the commissioner of employment and economic development for a grant to the 
1.8 	Park Rapids Economic Development Authority for acquisition, and to predesign, design, 
1.9 	construct, furnish, and equip the renovation, including hazardous materials abatement, 
1.10 	demolition, health, safety and building code compliance, mechanical systems, and space 
1.11 	restoration, of the historic National Guard Armory Building in downtown Park Rapids, for 
1.12 	use as a regional arts and event center, subject to Minnesota Statutes, section 16A.695. 
1.13 	This appropriation is not available until the commissioner has determined matching funds, 
1.14 	sufficient to complete the project, have been committed from nonstate sources.
1.15 		Subd. 2.Bond sale. To provide the money appropriated in this section from the 
1.16 	bond proceeds fund, the commissioner of management and budget shall sell and issue 
1.17 	bonds of the state in an amount up to $4,000,000 in the manner, upon the terms, and with 
1.18 	the effect prescribed by Minnesota Statutes, sections 16A.631 to 16A.675, and by the 
1.19 	Minnesota Constitution, article XI, sections 4 to 7.

1.20 	EFFECTIVE DATE. This section is effective the day following final enactment.