SHB 2192 - H AMDS TO H AMD (H-3263.2/97) 711

By Representative Clements

On page 17, beginning on line 34 of the striking amendment, after Adollars,@ strike all material down through Acontributions,@ on line 37

On page 17, line 31 of the striking amendment, after Ashall be@ strike Araised and paid or@

On page 19, after line 20 of the striking amendment, insert the following:

ANEW SECTION. Sec. 211. The team affiliate shall deposit one hundred nineteen million dollars into a separate interest bearing account under the control of the secretary of state on or before June 2, 1997. If the one hundred nineteen million dollars is not deposited into the account on or before June 2, 1997 section 606 of this act is null and void, and the secretary of state shall not distribute voter ballots for the special election. If the people reject and do not ratify this act at the election pursuant to section 606 the money and interest earnings shall be returned to the team affiliate. If the people adopt and ratify this act at the election pursuant to section 606 the money in the account shall be transferred to the public stadium authority created under section 102 of this act for the purposes of section 210 of this act.@

EFFECT: Requires the $119 million contribution from the football team for the stadium to be in cash. The money must be contributed by June 2, 1997 and if not contributed by that date the Secretary of State cannot distribute the ballots for the special election. If the voters do not approve the football stadium proposal the money will be returned to the team and if the voters approve the proposal the money will be transferred to the public stadium authority for construction of the stadium.