SENATE FILE 57

BY  CHELGREN

A BILL FOR

An Act requiring the sale of the Honey creek premier destination park and including effective date provisions.
BE IT ENACTED BY THE GENERAL ASSEMBLY OF THE STATE OF IOWA:

   Section 1.  NEW SECTION.  463C.19A  Sale of Honey creek premier destination park.
   1.  Immediately after the effective date of this Act, the Honey creek premier destination park authority shall develop a plan to sell, at market value, the tract of land referred to as the Honey creek premier destination park on the north shore of Rathbun lake in Appanoose county. The plan shall include the sale of substantial portions of the tract as soon as practical, and the sale of all of the tract within a commercially reasonable time. Prior to implementing the plan, the authority shall submit the plan to the natural resource commission for review and approval. The sale shall be handled in a manner that is the most financially beneficial to the authority. Appraisals conducted by the authority of the value of any portion of the tract shall be made available to the public immediately following the sale of that portion of the tract.
   2.  The proceeds from the sale of the property as provided in subsection 1 are appropriated to and shall be used by the authority to pay all outstanding bonds and satisfy all outstanding obligations of the authority, including fulfilling any outstanding covenants or provisions with bondholders or third parties made in accordance with this chapter, and any remaining proceeds are appropriated to and shall be used by the natural resource commission to maintain other parks and public lands under the jurisdiction of the commission.
   3.  By December 15 annually, the natural resource commission shall submit a report of the activities and costs of the sale of any property in accordance with subsection 1, including but not limited to the use of any proceeds from the sale of the property, to the general assembly in accordance with section 7A.11A, and to the legislative services agency, until such time as the sale of the property is complete and the proceeds have been expended by the authority, at which time the natural resource commission shall submit a final report on the sale of the property and use of the proceeds to the general assembly in accordance with section 7A.11A and to the legislative services agency.
   Sec. 2.  EFFECTIVE UPON ENACTMENT.  This Act, being deemed of immediate importance, takes effect upon enactment.
EXPLANATION
   This bill requires the Honey creek premier destination park authority to develop a plan to sell the Honey creek premier destination park which is located on the north shore of Rathbun lake in Appanoose county. The plan must be reviewed and approved by the natural resource commission prior to implementation.
   Proceeds from the sale of the property are appropriated to the authority to pay all outstanding bonds and satisfy all outstanding obligations of the authority, including fulfilling any outstanding covenants or provisions with bondholders or third parties made in accordance with Code chapter 463C and any remaining proceeds are appropriated to and shall be used by the commission to maintain and manage other parks and public lands under the jurisdiction of the commission.
   The natural resource commission is required to submit an annual report of the activities and costs of the sale of the property to the general assembly and to the legislative services agency, including the use of any proceeds from the sale, until the sale of the property is complete and all proceeds have been expended, at which time the commission shall submit a final report. 
   The bill takes effect upon enactment.