HF 2198

as introduced - 83rd Legislature (2003 - 2004) Posted on 12/15/2009 12:00am

  1.1                          A bill for an act 
  1.2             relating to capital improvements; authorizing the 
  1.3             issuance of state bonds; appropriating money for 
  1.4             floodwater retention systems in Area II of the 
  1.5             Minnesota River Basin. 
  1.6   BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA: 
  1.7      Section 1.  [APPROPRIATION.] 
  1.8      $1,000,000 is appropriated from the bond proceeds fund to 
  1.9   the Board of Water and Soil Resources for grants to assist local 
  1.10  governments in Area II of the Minnesota River Basin to acquire, 
  1.11  design, and construct floodwater retention systems. 
  1.12     The grants are not available until the commissioner 
  1.13  determines that $1 has been committed to the project from 
  1.14  nonstate sources for every $3 of state grant. 
  1.15     Sec. 2.  [BOND SALE.] 
  1.16     To provide the money appropriated in this act from the bond 
  1.17  proceeds fund, the commissioner of finance shall sell and issue 
  1.18  bonds of the state in an amount up to $1,000,000 in the manner, 
  1.19  upon the terms, and with the effect prescribed by Minnesota 
  1.20  Statutes, sections 16A.631 to 16A.675, and by the Minnesota 
  1.21  Constitution, article XI, sections 4 to 7. 
  1.22     Sec. 3.  [EFFECTIVE DATE.] 
  1.23     Sections 1 and 2 are effective the day following final 
  1.24  enactment.