Bill > SF2319

This bill authorizes the state of Minnesota to issue up to $30 million in appropriation bonds specifically for creating a secured perimeter around the Minnesota Vikings stadium in Minneapolis. The bill defines a "secured perimeter" as physical improvements including anti-climb fencing, gates, bollards, crash barriers, surveillance equipment, metal detectors, and related monitoring systems. The bonds will be issued by the commissioner and have a maximum term of 21 years, with repayment coming from potential future legislative appropriations. Importantly, these are not general obligation bonds backed by the state's full faith and credit, but rather appropriation bonds that can be canceled if the legislature chooses not to fund them in a given fiscal year. The proceeds will be granted to the Minnesota Sports Facilities Authority to construct the secured perimeter, with the funding available from fiscal year 2025 through 2046. The bill provides detailed provisions about how the bonds can be issued, sold, and refinanced, and specifies that various financial entities can legally invest in these bonds. The primary goal is to enhance security around the professional football stadium through a comprehensive perimeter protection system.

Budget and Finance

https://www.revisor.mn.gov/bills/bill.php?b=Senate&f=SF2319&ssn=0&y=2025