This bill, S.F. No. 2319, proposes funding for a secured perimeter at the Vikings Stadium in Minneapolis, Minnesota. It authorizes the sale and issuance of appropriation bonds up to $30 million to finance safety and security improvements, including fences, gates, surveillance, bollards, crash barriers, and other monitoring equipment.

Key provisions of the bill include:

• Issuance of Bonds: The commissioner of management and budget is authorized to issue appropriation bonds, which will be repaid using funds appropriated by the legislature.
• Use of Proceeds: Funds from the bond sales will be granted to the Minnesota Sports Facilities Authority for securing the perimeter of the stadium.
• Debt Service and Repayment: The bonds will not be backed by the full faith and credit of the state, meaning the state is not obligated to make payments beyond what is specifically appropriated.
• Investment Eligibility: The bonds are deemed legal investments for entities such as banks, insurance companies, and public funds.
• Refunding of Bonds: The commissioner is allowed to refinance the bonds if necessary.
• Duration of Appropriations: Money for debt service payments will be appropriated annually from the general fund, beginning in fiscal year 2025 and lasting through fiscal year 2046.

The bill ultimately ensures that funding will be available to establish a secure environment around the stadium while employing bonds as a financial tool to minimize the immediate impact on the state budget.