SF 554

as introduced - 91st Legislature (2019 - 2020) Posted on 01/28/2019 03:30pm

A bill for an act
relating to capital investment; appropriating money for the Cedar River Watershed
District; authorizing the sale and issuance of state bonds.

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

Section 1. new text begin CEDAR RIVER WATERSHED DISTRICT.
new text end

new text begin Subdivision 1. new text end

new text begin Appropriation. new text end

new text begin $2,300,000 is appropriated from the bond proceeds fund
to the commissioner of natural resources for the state share of a flood hazard mitigation
grant to the Cedar River Watershed District for publicly owned capital improvements to
prevent or alleviate flood damage under Minnesota Statutes, section 103F.161.
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 $2,300,000 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