HF 2724

as introduced - 86th Legislature (2009 - 2010) Posted on 02/09/2010 11:32pm

A bill for an act
relating to capital investment; appropriating money for Proctor spur trail;
authorizing the sale and issuance of state bonds.

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

Section 1. new text begin LOCAL TRAIL CONNECTION; PROCTOR SPUR TRAIL.
new text end

new text begin Subdivision 1. new text end

new text begin Appropriation. new text end

new text begin $600,000 is appropriated from the bond proceeds
fund to the commissioner of natural resources for a grant to the city of Proctor under
Minnesota Statutes, section 85.019, subdivision 4c, to design, conduct environmental
review, acquire right-of-way, and construct a 3-1/2 mile paved trail from the Proctor
Regional Recreation Center through Spirit Mountain to the Munger Trail in Norton Park in
the city of Duluth. This appropriation is not available until the commissioner determines
that at least $2,400,000 is committed to the project from nonstate sources.
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 $600,000 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