A bill for an act
relating to state government; transferring certain state-owned land in the Cloquet
Forestry Center to the University of Minnesota; appropriating money for defeasance
of outstanding debt on certain state bond financed property.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA:
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(a) The commissioner of administration must convey for no consideration all state-owned
land within boundaries of the Cloquet Forestry Center to the Board of Regents of the
University of Minnesota.
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(b) The conveyance must be in a form approved by the attorney general. The attorney
general may make changes to the land description to correct errors and ensure accuracy.
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(c) The land to be conveyed is located in Carlton County and is described as follows:
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(1) the Southeast Quarter of the Northwest Quarter of Section 30, Township 49 North,
Range 17 West;
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(2) the East Half of the Northeast Quarter of Section 36, Township 49 North, Range 18
West;
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(3) the Northwest Quarter of the Southeast Quarter of Section 29, Township 49 North,
Range 17 West;
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(4) the Northwest Quarter of the Northwest Quarter of Section 29, Township 49 North,
Range 17 West;
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(5) the Northwest Quarter of the Southwest Quarter (or Lot 3) of Section 30, Township
49 North, Range 17 West;
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(6) the Southwest Quarter of the Northwest Quarter (or Lot 2) of Section 31, Township
49 North, Range 17 West;
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(7) the Southeast Quarter of the Northeast Quarter of Section 32, Township 49 North,
Range 17 West; and
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(8) the North Half of the Northeast Quarter of Section 32, Township 49 North, Range
17 West.
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This section is effective the day following final enactment.
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$....... in fiscal year 2025 is appropriated from the general fund to the commissioner of
management and budget to prepay and defease any outstanding state general obligation
bonds used for improvements and betterments at the University of Minnesota Cloquet
Forestry Center, and other associated financing costs. This amount may be deposited,
invested, and applied to accomplish the purposes of this section as provided in Minnesota
Statutes, section 475.67, subdivisions 5 to 10, and 13. Upon the prepayment and defeasance
of all associated debt on the real property and improvements, all conditions set forth in
Minnesota Statutes, section 16A.695, subdivision 3, shall be deemed to have been satisfied
and the real property and improvements shall no longer constitute state bond financed
property under Minnesota Statutes, section 16A.695.
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This section is effective the day following final enactment.
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