HF 98

as introduced - 90th Legislature (2017 - 2018) Posted on 01/13/2017 10:03am

A bill for an act
relating to capital investment; appropriating money for an electric substation in
the city of Melrose; authorizing the sale and issuance of state bonds.

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

Section 1. new text begin MELROSE; ELECTRIC SUBSTATION.
new text end

new text begin Subdivision 1. new text end

new text begin Appropriation. new text end

new text begin $2,950,000 is appropriated from the bond proceeds fund
to the commissioner of employment and economic development for a grant under the greater
Minnesota business development program, Minnesota Statutes, section 116J.431, to the city
of Melrose to design, construct, and equip an electric substation and related infrastructure.
Notwithstanding any law to the contrary, this appropriation is available when the
commissioner of management and budget has determined there is a sufficient nonstate
contribution committed to complete the project.
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 $2,950,000 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