HF 2940

as introduced - 91st Legislature (2019 - 2020) Posted on 02/11/2020 03:39pm

A bill for an act
relating to capital investment; appropriating money for restoration of the Minnesota
River riverbank in the Shakopee area and construction of associated cultural and
recreational amenities; authorizing the sale and issuance of state bonds.

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

Section 1. new text begin SHAKOPEE; MINNESOTA RIVER RIVERBANK STABILIZATION.
new text end

new text begin Subdivision 1. new text end

new text begin Appropriation. new text end

new text begin $11,753,000 is appropriated from the bond proceeds
fund to the commissioner of employment and economic development for a grant to the city
of Shakopee to predesign, design, and construct the restoration of the Minnesota River
riverbank from the western edge of downtown Shakopee to The Landing in the Three Rivers
Park District, and to predesign, design, construct, furnish, and equip associated cultural and
recreational amenities along the river. This appropriation is not available until the
commissioner of management and budget determines that at least an equal amount has been
committed from nonstate sources to complete 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 $11,753,000 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