HF 507

as introduced - 90th Legislature (2017 - 2018) Posted on 01/26/2017 02:07pm

A bill for an act
relating to capital investment; appropriating money for phase I of the city of
Jackson's Memorial Park redevelopment; authorizing the sale and issuance of state
bonds.

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

Section 1. new text begin CITY OF JACKSON; MEMORIAL PARK REDEVELOPMENT PHASE
I.
new text end

new text begin Subdivision 1. new text end

new text begin Appropriation. new text end

new text begin $289,915 is appropriated from the bond proceeds fund
to the commissioner of employment and economic development for a grant to the city of
Jackson to complete phase I of the redevelopment of Memorial Park, including trails,
landscaping, a canoe launch, and other amenities. This appropriation is not available until
the commissioner of management and budget determines that at least an equal amount is
committed to the project 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 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 $289,915 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