HF 3475

as introduced - 90th Legislature (2017 - 2018) Posted on 03/22/2018 04:17pm

A bill for an act
relating to capital investment; appropriating money for St. Croix River riverbank
restoration in Stillwater; authorizing the sale and issuance of state bonds.

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

Section 1. new text begin STILLWATER; ST. CROIX RIVER RIVERBANK RESTORATION.
new text end

new text begin Subdivision 1. new text end

new text begin Appropriation. new text end

new text begin $3,300,000 is appropriated from the bond proceeds fund
to the commissioner of natural resources for a grant to the city of Stillwater to predesign,
design, engineer, and construct restoration of the St. Croix River riverbank in the city of
Stillwater and to design and construct an integrated walkway along the restored riverbank
in the city. This appropriation is available when the commissioner of management and
budget determines that sufficient resources have been committed to complete the project,
as required by Minnesota Statutes, section 16A.502.
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 $3,300,000 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