HF 1473

as introduced - 89th Legislature (2015 - 2016) Posted on 03/05/2015 02:07pm

A bill for an act
relating to capital investment; appropriating money for the Lake Redwood
reclamation and enhancement project; authorizing the sale and issuance of
state bonds.

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

Section 1. new text begin LAKE REDWOOD RECLAMATION AND ENHANCEMENT
PROJECT.
new text end

new text begin Subdivision 1. new text end

new text begin Appropriation. new text end

new text begin $7,825,000 is appropriated from the bond
proceeds fund to the commissioner of the Pollution Control Agency for a grant to the
Redwood-Cottonwood Rivers control area, a joint powers entity, to predesign, design,
construct, and equip the reservoir reclamation and enhancement of the 66-acre Lake
Redwood Reservoir, to remove approximately 650,000 cubic yards of sediment and
increase its depth from 2.8 feet to 20 feet in order to secure renewable energy capacity of the
hydroelectric dam which is impeded by lack of water capacity, reduce the flow of pollutants
to the Minnesota River, and increase fish habitat and enhance recreational opportunities.
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 $7,825,000 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