HF 996

as introduced - 93rd Legislature (2023 - 2024) Posted on 01/30/2023 02:04pm

A bill for an act
relating to capital investment; appropriating money for expansion of the Central
City Storm Tunnel in the city of Minneapolis; authorizing the sale and issuance
of state bonds.

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

Section 1. new text begin CENTRAL CITY STORM TUNNEL; MINNEAPOLIS.
new text end

new text begin Subdivision 1. new text end

new text begin Appropriation. new text end

new text begin $9,900,000 is appropriated from the bond proceeds fund
to the commissioner of employment and economic development for a grant to the city of
Minneapolis for design and construction necessary to expand the Central City Storm Tunnel
in Minneapolis. This appropriation is available when the commissioner of management and
budget determines that sufficient resources have been committed to complete the project
as required by Minnesota Statutes, section 16A.502. This appropriation is in addition to the
appropriation for the same purpose in Laws 2020, Fifth Special Session chapter 3, article
1, section 21, subdivision 26.
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 $9,900,000 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