HF 1076

as introduced - 91st Legislature (2019 - 2020) Posted on 02/14/2019 03:20pm

A bill for an act
relating to capital investment; appropriating money for water and sewer
infrastructure in Spring Park; 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 SPRING PARK; WATER AND SEWER INFRASTRUCTURE.
new text end

new text begin Subdivision 1. new text end

new text begin Appropriation. new text end

new text begin $5,000,000 is appropriated from the bond proceeds fund
to the Public Facilities Authority for a grant to the city of Spring Park for improvements to
the city's water and sewer system. This appropriation is not available until the commissioner
of management and budget determines that $5,000,000 has been committed to complete
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 $5,000,000 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