City of Austin Hormel Institute Bioimaging Center bond issue and appropriation

This bill authorizes the state of Minnesota to issue up to $5,000,000 in bonds to fund a project at the Hormel Institute in Austin. The funds will be used to design, construct, and equip a renovated space dedicated to STEM and bioimaging education, as well as workforce development and K-12 engagement. The money will be provided through a grant to the Austin Port Authority, which will oversee the renovation and setup of the facility. Once passed, the state will immediately begin the process of selling these bonds to raise the necessary capital.