HF 1337

as introduced - 86th Legislature (2009 - 2010) Posted on 02/09/2010 01:48am

A bill for an act
relating to capital investment; authorizing the sale and issuance of state bonds;
appropriating money for redevelopment of the former 3M site in St. Paul.

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

Section 1. new text begin ST. PAUL; FORMER 3M SITE REDEVELOPMENT.
new text end

new text begin Subdivision 1. new text end

new text begin Appropriation. new text end

new text begin $8,000,000 is appropriated from the bond proceeds
fund to the commissioner of employment and economic development for a grant to the St.
Paul Port Authority for preliminary design, engineering, final design, and improvements
and betterments of a capital nature, including relocation of utilities owned by public
entities, all within the 3M redevelopment area along Phalen Boulevard in St. Paul.
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 $8,000,000 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