HF 2913

as introduced - 93rd Legislature (2023 - 2024) Posted on 03/15/2023 09:09am

A bill for an act
relating to capital investment; appropriating money for the Lot D redevelopment
project in the city of Duluth; authorizing the sale and issuance of state bonds.

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

Section 1. new text begin DULUTH; LOT D REDEVELOPMENT.
new text end

new text begin Subdivision 1. new text end

new text begin Appropriation. new text end

new text begin $20,000,000 is appropriated from the bond proceeds
fund to the commissioner of employment and economic development for a grant to the city
of Duluth to construct and equip improvements of publicly owned infrastructure for
redevelopment of the Lot D property. This appropriation includes money for seawall repairs,
connection of utilities, demolition and removal of debris, transportation facilities upgrades,
site preparation, including soil correction, and other improvements and betterments of a
capital nature.
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 $20,000,000 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