HF 2085

as introduced - 87th Legislature (2011 - 2012) Posted on 02/08/2012 11:54am

A bill for an act
relating to capital investment; appropriating money for capital improvements at
publicly owned airports; authorizing the sale and issuance of state bonds.

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

Section 1. new text begin STATEWIDE AIRPORT IMPROVEMENTS.
new text end

new text begin Subdivision 1. new text end

new text begin Appropriation. new text end

new text begin $3,000,000 is appropriated from the bond proceeds
fund to the commissioner of transportation for the following purposes:
new text end

new text begin (1) $2,000,000 of this appropriation is for the hangar construction revolving account
under Minnesota Statutes, section 360.305, subdivision 4; and
new text end

new text begin (2) $1,000,000 of this appropriation is for capital assistance grants under Minnesota
Statutes, section 360.305, to enhance and update navigational aids and lighting at publicly
owned airports.
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 $3,000,000 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

new text begin EFFECTIVE DATE. new text end

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