SF 2356

as introduced - 86th Legislature (2009 - 2010) Posted on 02/09/2010 11:36pm

A bill for an act
relating to capital improvements; appropriating money for the Greater Minnesota
business development infrastructure grant program; authorizing the sale and
issuance of state bonds.

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

Section 1. new text begin GREATER MINNESOTA BUSINESS DEVELOPMENT
INFRASTRUCTURE GRANT PROGRAM.
new text end

new text begin Subdivision 1. new text end

new text begin Appropriation. new text end

new text begin $20,000,000 is appropriated from the bond proceeds
fund to the commissioner of employment and economic development for the Greater
Minnesota business development infrastructure grant program under Minnesota Statutes,
section 116J.431.
new text end

new text begin This appropriation is not available until the commissioner has determined that at
least an equal amount has been 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 $20,000,000 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

Sec. 2. new text begin EFFECTIVE DATE.
new text end

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