This bill proposes the issuance of up to $30 million in appropriation bonds to fund the construction of a secured perimeter around the Vikings stadium in Minneapolis. The perimeter would include physical security measures such as anti-climb fencing, gates, bollards, crash barriers, surveillance equipment, and metal detectors.

Key provisions of the bill include:

1. Authorization to Issue Bonds – The commissioner is authorized to sell and issue appropriation bonds, with proceeds allocated to the Commissioner of Administration to fund a grant for the Minnesota Sports Facilities Authority.

2. Bond Structure and Repayment – The bonds would be repaid from appropriations made by the legislature and backed by funds from the general fund, investment earnings, and payments received under related agreements. However, the bonds are not considered public debt of the state, meaning they do not pledge the state's full faith, credit, or taxing power.

3. Debt Service and Investment – The bill sets out provisions for managing debt service payments, investing bond proceeds, and potentially refunding bonds for refinancing purposes.

4. Legal Investments – The bonds would be classified as legal investments for state entities, public agencies, banks, credit unions, insurance companies, and fiduciaries.

5. Legislative Appropriations – A fiscal appropriation is established, ensuring the availability of funds to pay principal and interest on the bonds through fiscal year 2046.

6. Waiver of State Immunity – The state waives immunity regarding legal agreements made in connection with these appropriation bonds.

This bill aims to enhance security at the stadium through dedicated infrastructure funding while structuring repayment through legislative appropriations rather than direct state debt obligations.