The Minnesota Sports Facilities Authority is established as a public body, corporate and politic, and political subdivision of the state. The authority is not a joint powers entity or an agency or instrumentality of the city.
The following sports facilities are part of the Minnesota Sports Facilities Authority: the professional football stadium constructed under this chapter; and any other sports facility constructed or acquired by the authority.
The Target Center in Minneapolis, Xcel Energy Center in St. Paul, and Target Field in Minneapolis may join the facilities of the authority upon satisfaction of the following factors and upon the approval of the authority:
(1) the governing body of the facility must make the request to the authority to become a sports facility under this section;
(2) the governing body and the authority must negotiate an agreement with respect to the transfer of all obligations and responsibilities, including, but not limited to, outstanding debt, revenue sources, finance, funding, operations, equipment, repair and replacements,
capital improvements, reserves, contracts, and agreements;
(3) the governing body and the professional sports team who is the primary user of the facility must make a joint recommendation to the authority;
(4) the authority must find that the inclusion of a facility under the authority will not have a negative impact on the authority, the general fund, or become an obligation of the state of Minnesota; and
(5) any other information or requirements requested by the authority.
The authority must report to the chairs and ranking minority members of the legislative committees with jurisdiction over state government finance by January 15 of each year.