Increases the maximum bonded indebtedness allowed for the State Armory Building Commission.

The bill amends Minnesota Statutes to increase the maximum bonded indebtedness allowed for the State Armory Building Commission from $15,000,000 to $45,000,000. This change enables the commission to borrow more money and issue bonds for the purposes of constructing and equipping armories for the use of the state's military forces. The commission retains the power to acquire property, manage armories, and use funds for armory purposes. The bill specifies that the commission may not transfer funds from one armory to another unless certain conditions are met.

Increases the maximum bonded indebtedness allowed for the State Armory Building Commission.

The bill amends Minnesota Statutes to increase the maximum bonded indebtedness allowed for the State Armory Building Commission from $15,000,000 to $45,000,000. This change enables the commission to borrow more money and issue bonds for the purposes of constructing and equipping armories for the use of the state's military forces. The commission retains the power to acquire property, manage armories, and use funds for armory purposes. The bill specifies that the commission may not transfer funds from one armory to another unless certain conditions are met.