SF 703

as introduced - 88th Legislature (2013 - 2014) Posted on 02/26/2013 08:30am

A bill for an act
relating to capital investment; appropriating money for the wastewater
infrastructure funding program; authorizing the sale and issuance of state bonds.

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

Section 1. new text begin WASTEWATER INFRASTRUCTURE FUNDING PROGRAM.
new text end

new text begin Subdivision 1. new text end

new text begin Appropriation. new text end

new text begin $50,000,000 is appropriated from the bond proceeds
fund to the Public Facilities Authority for grants to eligible municipalities under the
wastewater infrastructure funding program under Minnesota Statutes, section 446A.072.
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 subdivision 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 $50,000,000 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