HF 370

as introduced - 89th Legislature (2015 - 2016) Posted on 01/26/2015 01:53pm

A bill for an act
relating to capital investment; appropriating money for public infrastructure for
an industrial park in the city of Blue Earth; authorizing the sale and issuance of
state bonds.

BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA:

Section 1. new text begin CITY OF BLUE EARTH INDUSTRIAL PARK INFRASTRUCTURE.
new text end

new text begin Subdivision 1. new text end

new text begin Appropriation. new text end

new text begin $1,422,550 is appropriated from the bond proceeds
fund to the commissioner of employment and economic development for the greater
Minnesota business development public infrastructure grant program under Minnesota
Statutes, section 116J.431, for a grant to the city of Blue Earth to acquire land and
predesign, design, construct, and equip public infrastructure for the North Industrial Park
in the city of Blue Earth. The project includes upgrading a segment of County State-Aid
Highway 103 between Trunk Highway 169 and the entrance to the industrial park.
This appropriation is not available until the commissioner of management and budget
determines that at least an equal amount is committed to the project from nonstate sources.
new text end

new text begin Subd. 2. new text end

new text begin Bond sale. new text end

new text begin To provide the money appropriated in this section from the
bond proceeds fund, the commissioner of management and budget shall sell and issue
bonds of the state in an amount up to $1,422,550 in the manner, upon the terms, and with
the effect prescribed by Minnesota Statutes, sections 16A.631 to 16A.675, and by the
Minnesota Constitution, article XI, sections 4 to 7.
new text end

new text begin EFFECTIVE DATE. new text end

new text begin This section is effective the day following final enactment.
new text end