as introduced - 82nd Legislature (2001 - 2002) Posted on 12/15/2009 12:00am
1.1 A bill for an act 1.2 relating to capital improvements; authorizing a grant 1.3 to the Albert Lea Port Authority to remodel a building 1.4 for use as a business incubator; authorizing issuance 1.5 of bonds; appropriating money. 1.6 BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA: 1.7 Section 1. [ALBERT LEA PORT AUTHORITY; APPROPRIATION.] 1.8 $500,000 is appropriated from the bond proceeds fund to the 1.9 commissioner of trade and economic development for a grant to 1.10 the Albert Lea Port Authority for the design and remodeling of a 1.11 building in the Northaire Industrial Park in Albert Lea for use 1.12 as a business development center, subject to the requirements of 1.13 Minnesota Statutes, section 16A.695. 1.14 Sec. 2. [BOND SALE.] 1.15 To provide the money appropriated in section 1 from the 1.16 bond proceeds fund, the commissioner of finance shall sell and 1.17 issue bonds of the state in an amount up to $500,000 in the 1.18 manner, on the terms, and with the effect prescribed by 1.19 Minnesota Statutes, sections 16A.631 to 16A.675, and by the 1.20 Minnesota Constitution, article XI, sections 4 to 7. 1.21 Sec. 3. [EFFECTIVE DATE.] 1.22 Sections 1 and 2 are effective the day following final 1.23 enactment.