HF 1051

as introduced - 87th Legislature (2011 - 2012) Posted on 03/14/2011 10:05am

A bill for an act
relating to capital investment; appropriating money for flood hazard mitigation
grants to the Buffalo-Red 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 BUFFALO-RED RIVER WATERSHED DISTRICT; FLOOD
HAZARD MITIGATION.
new text end

new text begin Subdivision 1. new text end

new text begin Appropriation. new text end

new text begin (a) $12,647,082 is appropriated from the bond
proceeds fund to the commissioner of natural resources for the state share of flood hazard
mitigation grants for publicly owned capital improvements to prevent or alleviate flood
damage under Minnesota Statutes, section 103F.161, and enhance natural resources
consistent with the flood damage reduction mediation agreement. This appropriation
includes money for the following Buffalo-Red River Watershed District projects:
new text end

new text begin (1) $3,289,346 is for Georgetown levee improvements;
new text end

new text begin (2) $8,700,000 is for Oakport flood mitigation and no nonstate match is required;
new text end

new text begin (3) $657,736 is for the Manston Slough restoration project, and is the additional state
funding needed to provide the 75 percent state share of the project costs, as specified in
the mediation agreement.
new text end

new text begin (b) For any project listed in this subdivision that the commissioner determines is not
ready to proceed or does not expend all the money allocated to it, the commissioner may
allocate that project's money to a project on the commissioner's priority list.
new text end

new text begin (c) To the extent that the cost of a project to achieve two feet above the 100-year
flood protection in Georgetown exceeds two percent of the median household income
in the municipality multiplied by the number of households in the municipality, this
appropriation is also for the local share of 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 $12,647,082 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