SF 3591

as introduced - 89th Legislature (2015 - 2016) Posted on 04/27/2016 08:50am

A bill for an act
relating to capital investment; appropriating money for public infrastructure repair
and replacements in Madelia; authorizing the sale and issuance of state bonds.

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

Section 1. new text begin PUBLIC INFRASTRUCTURE REPAIR AND REPLACEMENT;
MADELIA.
new text end

new text begin Subdivision 1. new text end

new text begin Appropriation. new text end

new text begin $100,000 is appropriated from the bond proceeds
fund to the commissioner of employment and economic development for a grant to the
city of Madelia for repair and replacement of a capital nature of public infrastructure
damaged by a fire in Madelia in February of 2016. This appropriation is not available until
at least an equal amount is committed from nonstate sources.
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 act from the bond
proceeds fund, the commissioner of management and budget shall sell and issue bonds of
the state in an amount up to $100,000 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