as introduced - 85th Legislature (2007 - 2008) Posted on 12/15/2009 12:00am
A bill for an act
relating to capital investment; authorizing spending to acquire and better public
land and buildings and other improvements of a capital nature; authorizing
the issuance of state bonds; appropriating money for Brainerd downtown
infrastructure improvements.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA:
new text begin
$500,000 is appropriated from the bond proceeds
fund to the commissioner of employment and economic development for a grant to the
city of Brainerd to reconstruct street and utility infrastructure in the historic downtown
area of the city. This appropriation is not available until the commissioner of finance has
determined that at least $970,000 has been committed to the project from nonstate sources.
new text end
new text begin
To provide the money appropriated in subdivision 1 from the
bond proceeds fund, the commissioner of finance shall sell and issue bonds of the state in
an amount up to $500,000 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
This section is effective the day following final enactment.
new text end