HF 594

as introduced - 93rd Legislature (2023 - 2024) Posted on 01/19/2023 02:56pm

A bill for an act
relating to capital investment; appropriating money for Phase 6 of the infrastructure
improvements project in the city of Biwabik; authorizing the sale and issuance of
state bonds.

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

Section 1. new text begin BIWABIK; INFRASTRUCTURE IMPROVEMENTS PROJECT PHASE
6.
new text end

new text begin Subdivision 1. new text end

new text begin Appropriation. new text end

new text begin $4,000,000 is appropriated from the bond proceeds
account in the state transportation fund to the commissioner of transportation for a grant to
the city of Biwabik to design and construct Phase 6 of the city's infrastructure improvement
project. This appropriation includes money for the full reconstruction of Fifth Avenue North;
First Street North, from First Avenue North to Sixth Avenue North; and Sixth Avenue
South, including all associated utilities and other capital improvements.
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 account in the state transportation fund, the commissioner of management and
budget shall sell and issue bonds of the state in an amount up to $4,000,000 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