HF 2682

as introduced - 87th Legislature (2011 - 2012) Posted on 03/05/2012 01:52pm

A bill for an act
relating to capital investment; appropriating money for flood hazard mitigation in
Granite Falls; authorizing the sale and issuance of state bonds.

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

Section 1. new text begin GRANITE FALLS; FLOOD HAZARD MITIGATION.
new text end

new text begin Subdivision 1. new text end

new text begin Appropriation. new text end

new text begin $100,000 is appropriated from the bond proceeds
fund to the commissioner of natural resources for a grant under Minnesota Statutes, section
103F.161, to the city of Granite Falls for design and certification of flood control work
in accordance with the Locally Preferred Plan for Flood Damage Reduction, Minnesota
River at Granite Falls. Notwithstanding Minnesota Statutes, section 103F.161, subdivision
2, this appropriation is also for the local share of the project and is intended to leverage
additional federal money for 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 $100,000 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