HF 851

as introduced - 86th Legislature (2009 - 2010) Posted on 02/09/2010 01:42am

A bill for an act
relating to capital investment; authorizing the sale and issuance of state bonds;
appropriating money to acquire land for the St. Cloud Regional Airport.

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

Section 1. new text begin ST. CLOUD REGIONAL AIRPORT LAND ACQUISITION.
new text end

new text begin Subdivision 1. new text end

new text begin Appropriation. new text end

new text begin $2,000,000 is appropriated from the bond proceeds
fund to the commissioner of transportation for a grant to the City of St. Cloud to purchase
approximately 800 acres of land adjacent to the St. Cloud Regional Airport. This
appropriation is not available until the commissioner of finance determines that at least
$2,000,000 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 $2,000,000 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.
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