HF 2665

as introduced - 84th Legislature (2005 - 2006) 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 public improvements of a capital nature;
appropriating money for a grant to the city of St. Paul for infrastructure
improvements related to the Union Depot development project; authorizing the
issuance of general obligation bonds.

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

Section 1. new text begin APPROPRIATION; ST. PAUL, UNION DEPOT.
new text end

new text begin $7,500,000 is appropriated from the bond proceeds fund to the commissioner
of employment and economic development for a grant to the city of St. Paul for street
transportation, pedestrian, and infrastructure improvements to accommodate increased
traffic associated with the development of the Union Depot for use as a multimodal
transit center.
new text end

Sec. 2. new text begin BOND SALE.
new text end

new text begin To provide the money appropriated in section 1 from the bond proceeds fund,
the commissioner of finance shall sell and issue bonds of the state in an amount up to
$7,500,000 in the manner, on 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

Sec. 3. new text begin EFFECTIVE DATE.
new text end

new text begin Sections 1 and 2 are effective the day following final enactment.
new text end