HF 1685

as introduced - 89th Legislature (2015 - 2016) Posted on 03/10/2015 03:19pm

A bill for an act
relating to capital investment; appropriating money for the re-creation of Hall's
Island in Minneapolis; authorizing the sale and issuance of state bonds.

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

Section 1. new text begin HALL'S ISLAND; APPROPRIATION.
new text end

new text begin Subdivision 1. new text end

new text begin Appropriation. new text end

new text begin $12,000,000 is appropriated from the bond proceeds
fund to the Minneapolis Park and Recreation Board to predesign, design, construct, and
restore a river island and park facility for the purpose of providing public access to new
riverfront park facilities and restoring ecological habitat areas along the Mississippi River.
This appropriation is not available until the commissioner of management and budget
determines that at least $5,820,000 has been committed to the project from nonstate
sources. Expenditures made on or after July 15, 2010, for this project shall count toward
the match 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 $12,000,000 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