State-owned land in the Cloquet Forestry Center transferred to the University of Minnesota, defeasance of outstanding debt on certain state bond financed property funding provided, and money appropriated.

HF 1389 transfers specific state-owned land at the Cloquet Forestry Center in Carlton County to the University of Minnesota Board of Regents. It appropriates $1.3 million from the general fund to pay off existing state bonds financing improvements on this property, removing it from "state bond-financed property" status under Minnesota law. This debt payment enables the University of Minnesota to eventually return the land to the Fond du Lac Band of Lake Superior Chippewa, as stated in the bill's purpose. The bill directly affects the state, the University of Minnesota, and the Fond du Lac Band by facilitating a land transfer.