MN SF4206

Commissioner of management and budget must prepay and defease all outstanding stadium appropriation bonds by September 1, 2022.

Appropriation from general fund in fiscal year 2022 covers $110,600,000 principal balance plus accrued interest from March 1, 2022 onward and financing costs for prepayment and defeasance.

Minnesota Statutes section 16A.965 (authorizing stadium appropriation bonds) is repealed 60 days after commissioner certifies bonds have been redeemed or defeased.

Commissioner must notify the revisor of statutes within 30 days of certification that bonds have been redeemed or defeased.