1.1 	A bill for an act
1.2 	relating to local government finance; permitting Minneapolis Park and Recreation 
1.3 	Board to retain proceeds from the condemnation of park lands necessary for 
1.4 	the reconstruction and expansion of marked Interstate Highway 35W at the 
1.5 	Mississippi River.
1.6 	BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA:

1.7 	Section 1. MINNEAPOLIS PARK AND RECREATION BOARD; 
1.8 	CONDEMNATION PROCEEDS.
 1.9 	Notwithstanding the provisions of Minnesota Statutes, section 16A.695, or any 
1.10 	other law, the Minneapolis Park and Recreation Board may retain the proceeds from the 
1.11 	condemnation of park lands or its interest in land necessary for the reconstruction and 
1.12 	expansion of marked Interstate Highway 35W at the Mississippi River in Minneapolis. 
1.13 	Proceeds received by the park board from the condemnation proceeding must be deposited 
1.14 	into a park land acquisition account controlled by the Minneapolis Park and Recreation 
1.15 	Board. Money in the account must be invested pursuant to Minnesota Statutes, chapter 
1.16 	118A, and interest shall accrue to this account. The park land acquisition account must 
1.17 	be used solely to acquire land for park purposes adjacent to the Mississippi River in 
1.18 	Minneapolis. Lands acquired from the account must be included in the metropolitan 
1.19 	regional recreation open space system and are subject to the provisions of Minnesota 
1.20 	Statutes, section 16A.695, and laws governing metropolitan regional park land. The park 
1.21 	board shall provide an annual report to the commissioner of finance and the Metropolitan 
1.22 	Council regional administrator outlining the use of the funds in the park land acquisition 
1.23 	account until such time as no funds remain in the account.

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