Section 473.326 Como Park Zoo Bonds

MINNESOTA STATUTES AND CODES

Section 473.326 Como Park Zoo Bonds

473.326 COMO PARK ZOO BONDS.

Subdivision 1.Up to $2,300,000.

Subject to the provisions of subdivision 2, the Metropolitan Council shall by resolution authorize the issuance of general obligation bonds of the council in an aggregate principal amount not exceeding $2,300,000, in addition to the amount authorized under the provisions of section 473.325. The proceeds shall be used by the council for grants to the city of St. Paul for the repair, construction, reconstruction, improvement, and rehabilitation of the Como Park Zoo owned and operated by the city. The bonds shall be sold, issued, and secured as provided in section 473.325, and the terms of each series thereof shall be fixed so that the annual principal and interest payments thereon, together with those on all outstanding and undischarged bonds issued pursuant to section 473.325, will not exceed the limit provided in that section.

Subd. 2.Contingent on plan conformity.

The city council shall cause to be prepared, approve, and submit to the Metropolitan Council plans for any work for which a grant is requested. The Metropolitan Council shall determine whether the plans are consistent with Ramsey County's master plan and the Metropolitan Council's policy plan for regional recreation open space. If not, or if the determination cannot be made on the basis of the plans as submitted, they shall be returned with comments to the city council for revision and resubmission. No bonds shall be issued under this section until the plans for the work to be financed thereby are approved by the Metropolitan Council.

Subd. 3.Reappropriated state funds.

Of any state funds reappropriated to the Metropolitan Council for use for the acquisition and betterment of regional recreation open space, at least $1,400,000 shall be used by the council for grants to the city of St. Paul for the repair, construction, reconstruction, improvement, and rehabilitation of the Como Park Zoo.

Subd. 4.City's ownership, management.

No grant made under this section shall affect the city's ownership of or power to manage and operate the zoo, in a manner consistent with the master plan and policy plan.