This bill modifies the port authority powers of the city of Lake City by amending Minnesota Statutes 2024, section 469.0773. It allows the city to establish a port authority commission with powers similar to those of a port authority under section 469.049, but explicitly prohibits the commission from issuing debt or bonds and exercising powers of eminent domain. The city may also levy a tax for the benefit of the port authority, but it retains the discretion to grant or deny such requests. Additionally, if the port authority commission is established, it can exercise powers akin to those of a municipal housing and redevelopment authority, with the same restrictions on levying taxes, issuing debt, or exercising eminent domain.

Furthermore, the bill includes a provision that allows the city of Lake City to validate prior actions taken under Laws 2021, chapter 19, section 1, by approving them through a resolution and filing it with the secretary of state by January 1, 2027. This validation ensures that any actions undertaken in accordance with the previous law and the amended section 469.0773 are recognized as legitimate. The effective date for both sections of the bill is the day following final enactment.

Statutes affected:
Introduction: 469.0773