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HF 750

as introduced - 86th Legislature (2009 - 2010) Posted on 02/09/2010 01:41am

KEY: stricken = removed, old language.
underscored = added, new language.

Current Version - as introduced

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1.19

A bill for an act
relating to capital investment; authorizing spending to acquire and better public
land and buildings and other improvements of a capital nature; authorizing the
issuance of state bonds; appropriating money for a grant to the city of Floodwood
for business park development.

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

Section 1. new text begin FLOODWOOD; BUSINESS PARK DEVELOPMENT.
new text end

new text begin Subdivision 1. new text end

new text begin Appropriation. new text end

new text begin $....... is appropriated from the bond proceeds fund
to the commissioner of employment and economic development for a grant to the city
of Floodwood for acquisition of land and site preparation, including public water and
wastewater infrastructure and turn lanes, to support development of a business park. This
appropriation is not available until the commissioner of finance has determined 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 by subdivision 1 from the
bond proceeds fund, the commissioner of finance shall sell and issue bonds of the state
in an amount up to $....... 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.
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