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S.F. No. 2062, as introduced - 84th Legislative Session (2005 -2006) Page 5 of 9 7.36 under chapter 515A, or a common interest community or leasehold 8.1 common interest community under chapter 515B, and may grant, 8.2 establish, create, or join in other or related easements, 8.3 agreements, and similar benefits and burdens that the authority 8.4 may consider necessary or appropriate, and exercise any and all 8.5 rights and privileges and assume obligations under them as a 8.6 declarant, unit owner, or otherwise, insofar as practical and 8.7 consistent with applicable law. The authority may be a member 8.8 of an association and the chair, any commissioners, and any 8.9 officers and employees of the authority may serve on the board 8.10 of an association under chapter 515A or 515B or other law. 8.11 Subd. 14. [PROCUREMENT.] (a) The authority and the 8.12 Minnesota Vikings must jointly select a construction manager. 8.13 With respect to the construction of the stadium, the 8.14 construction manager must: 8.15 (1) guarantee a maximum cost of construction; and 8.16 (2) provide payment and performance bonds or other security 8.17 reasonably acceptable to the authority in an amount equal to the 8.18 guaranteed maximum cost of construction, and shall comply with 8.19 all employment requirements applicable to city and state 8.20 contracts for construction, including prevailing wages as 8.21 defined in section 177.42, affirmative action, and outreach. 8.22 (b) The lessee under the stadium lease described in 8.23 paragraph (c) or the construction manager may enter into 8.24 contracts with contractors for labor, materials, supplies, and 8.25 equipment to equip and construct the new stadium through the 8.26 process of public bidding. 8.27 (c) The lessee or the construction manager may: 8.28 (1) limit the list of eligible bidders to those that the 8.29 construction manager determines possess sufficient expertise to 8.30 perform the intended functions; 8.31 (2) award contracts to the contractors that the 8.32 construction manager determines provide the best value, which 8.33 need not be the lowest responsible bidder; and 8.34 (3) for work the construction manager determines to be 8.35 critical to the completion schedule, the construction manager 8.36 may award contracts on the basis of competitive proposals or 9.1 perform work with its own forces without soliciting competitive 9.2 bids if the construction manager provides evidence of 9.3 competitive pricing. 9.4 Sec. 7. [473J.06] [ISSUANCE OF BONDS.] 9.5 Subdivision 1. [BONDS.] The authority may by resolution, 9.6 by a vote of a majority of all of its members, authorize the 9.7 sale and issuance of its bonds for any or all of the following 9.8 purposes: 9.9 (1) to provide funds and pay costs to predesign, design, 9.10 construct, furnish, equip, and otherwise improve or better the 9.11 sports facilities owned or to be owned by the authority pursuant 9.12 to this act; 9.13 (2) to establish a reserve fund or funds for the bonds and 9.14 to pay costs of issuance of the bonds; 9.15 (3) to refund bonds issued under this section; and 9.16 (4) to fund judgments entered by any court against the 9.17 authority in matters relating to the authority's functions 9.18 related to the sports facilities. 9.19 Subd. 2. [PROCEDURE.] The bonds shall be sold, issued, and 9.20 secured on the terms and conditions the authority determines to 9.21 be in the best interests of the authority and residents therein, 9.22 except as otherwise provided in this chapter. The bonds may be 9.23 sold at any price and at public or private sale as determined by 9.24 the authority. They shall be payable solely from tax and other 9.25 revenues referred to in this chapter. The bonds shall not be a 9.26 general obligation or debt of the authority or any city, county, 9.27 or the state, and shall not be included in the net debt of any http: / /www.revisor.leg. state. mn. us /bin/bldbill.php ?bill =52062.0 &session =1s84 12/6/2005