HF 258
Introduction - 84th Legislature (2005 - 2006)
Posted on 12/15/2009 12:00 a.m.
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A bill for an act
relating to capital investment; appropriating money
for flood hazard mitigation in Oakport Township;
authorizing the issuance of state general obligation
bonds.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA:
Section 1. new text begin APPROPRIATION; FLOOD HAZARD MITIGATION,
OAKPORT TOWNSHIP.
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$1,500,000 is appropriated from the bond proceeds fund to
the commissioner of natural resources for the flood hazard
mitigation program under Minnesota Statutes, section 103F.161.
This appropriation is for the Oakport Township project,
including levee construction and acquisition of real property.
To the extent that the cost of the project exceeds two percent
of the median household income in the township multiplied by the
number of households in the township, this appropriation is also
for the local share of the project.
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Sec. 2. new text begin BOND SALE.
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To provide the money appropriated in section 1 from the
bond proceeds fund, the commissioner of finance shall sell and
issue bonds of the state in an amount up to $1,500,000 in the
manner, on 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.
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Sec. 3. new text begin EFFECTIVE DATE.
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Sections 1 and 2 are effective the day following final
enactment.
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