HF 1092

as introduced - 86th Legislature (2009 - 2010) Posted on 02/09/2010 01:43am

A bill for an act
relating to capital investment; authorizing the issuance of state bonds;
appropriating money for a flood mitigation project.

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

Section 1. new text begin CITY OF ROSEAU EAST DIVERSION FLOOD CONTROL
PROJECT.
new text end

new text begin Subdivision 1. new text end

new text begin Appropriation. new text end

new text begin (a) $7,750,000 is appropriated from the bond
proceeds fund to the commissioner of natural resources for flood hazard mitigation under
Minnesota Statutes, section 103F.161, for the city of Roseau.
new text end

new text begin (b) This appropriation is for the state share of land acquisition costs of $4,050,000,
relocation costs of $500,000, and bridge construction costs of $3,200,000 for the United
States Army Corps of Engineers East Diversion Flood Control Project, which will protect
the city of Roseau from recurring flooding.
new text end

new text begin (c) The appropriation in paragraph (a) is also for the local share of the flood hazard
mitigation project under Minnesota Statutes, section 103F.161, in Roseau to the extent
that the cost of the project exceeds two percent of the median household income in the
municipality multiplied by the number of households in the municipality.
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 subdivision 1 from
the bond proceeds fund, the commissioner of finance shall sell and issue bonds of the
state in an amount up to $7,750,000 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