Subdivision 1. Creation. A football stadium account is created in the special revenue fund in the state treasury. On July 1, 2002, the Metropolitan Sports Facilities Commission must deposit $500,000 from its cash reserves in the football stadium account.
Subd. 2. Transfer; sale of the Metrodome. Upon sale of the Metrodome, the Metropolitan Sports Facilities Commission must transfer the net sales proceeds as follows:
(1) $5,000,000 to Hennepin County to offset expenditures for grants for capital improvement reserves for a ballpark under section 473.757; and
(2) the remainder to the football stadium account to be used to pay debt service on bonds issued to pay for the construction of a football stadium for the Minnesota Vikings.
History:2002 c 397 s 4; 2006 c 257 s 4