HF 2514

as introduced - 87th Legislature (2011 - 2012) Posted on 02/27/2012 01:07pm

A bill for an act
relating to capital improvements; appropriating money for grant to city of
Richfield to construct new arterial street; authorizing the sale and issuance of
state bonds.

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

Section 1. new text begin RICHFIELD; CREATION OF ARTERIAL STREET.
new text end

new text begin $1,000,000 is appropriated from the bond proceeds fund to the commissioner of
employment and economic development for a grant to the city of Richfield to acquire
land for, design, and construct a new north-south arterial street beginning at 63rd street
on 17th Avenue and heading south, in the city. This appropriation is available when the
commissioner determines that an amount sufficient to complete the project has been
committed from nonstate sources.
new text end

Sec. 2. new text begin BOND SALE.
new text end

new text begin To provide the money appropriated in section 1 from the bond proceeds fund, the
commissioner of management and budget shall sell and issue bonds of the state in an
amount up to $1,000,000 in the manner, on 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

Sec. 3. new text begin EFFECTIVE DATE.
new text end

new text begin Sections 1 and 2 are effective the day following final enactment.
new text end