HF 2641

as introduced - 92nd Legislature (2021 - 2022) Posted on 05/15/2021 03:41pm

A bill for an act
relating to capital investment; appropriating money for water quality mitigation
of the Minnesota River-Mankato watershed; authorizing the sale and issuance of
state bonds.

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

Section 1. new text begin CITY OF MANKATO; WATER QUALITY MITIGATION.
new text end

new text begin Subdivision 1. new text end

new text begin Appropriation. new text end

new text begin $3,750,000 is appropriated from the bond proceeds fund
to the Board of Water and Soil Resources for a grant to the city of Mankato to acquire land
and to design and construct improvements to reduce erosion and improve water quality in
the Minnesota River-Mankato watershed. This appropriation includes money for riverbank
restoration, and completion of the development of point-nonpoint source phosphorous
trading program restoring and creating wetlands to improve surface water improvements.
This appropriation is not available until the commissioner of management and budget
determines that at least an equal amount has been committed from nonstate sources to
complete the project.
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 this section from the bond
proceeds fund, the commissioner of management and budget shall sell and issue bonds of
the state in an amount up to $3,750,000 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