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HF 56

as introduced - 89th Legislature (2015 - 2016) Posted on 01/13/2015 08:14am

KEY: stricken = removed, old language.
underscored = added, new language.

Bill Text Versions

Engrossments
Introduction Posted on 01/08/2015

Current Version - as introduced

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A bill for an act
relating to capital improvements; appropriating money for flood hazard
mitigation in Area II of the Minnesota River Basin; authorizing the sale and
issuance of state bonds.

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

Section 1. new text begin APPROPRIATION.
new text end

new text begin $1,000,000 is appropriated from the bond proceeds fund to the Board of Water and
Soil Resources for a grant to Minnesota River Basin Projects, Inc., for the state's share
of a flood hazard mitigation grant for publicly owned capital improvements to prevent
or alleviate flood damage in Area II of the Minnesota River Basin. This appropriation
is not available until the board determines that $1 has been committed from nonstate
sources for every $3 of state grant.
new text end

Sec. 2. new text begin BOND SALE.
new text end

new text begin To provide the money appropriated in section 1 from the bond proceeds fund, the
commissioner of management and budget shall sell and issue bonds of the state in an
amount up to $1,000,000 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. 3. new text begin EFFECTIVE DATE.
new text end

new text begin Sections 1 and 2 are effective the day following final enactment.
new text end