HF 2909

as introduced - 91st Legislature (2019 - 2020) Posted on 05/18/2019 10:06am

A bill for an act
relating to capital investment; appropriating money for public improvements on
the lake front and Blufflands State Trail in Lake City; authorizing the sale and
issuance of state bonds.

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

Section 1. new text begin LAKE CITY; LAKE FRONT IMPROVEMENTS.
new text end

new text begin Subdivision 1. new text end

new text begin Appropriation. new text end

new text begin $2,670,000 is appropriated from the bond proceeds fund
to the commissioner of employment and economic development for a grant to the city of
Lake City for projects to increase public access to Lake Pepin, increase water-oriented
recreational activities, and address storm water mitigation and treatment needs to protect
Lake Pepin. The city may use this appropriation for one or more of the following project
elements along the lake front and the Blufflands State Trail: acquire property, and predesign,
design, engineer, construct, renovate, furnish, and equip public amenities. This appropriation
is not available until the commissioner of management and budget determines that at least
an equal amount has been committed from nonstate sources to complete the project.
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 $2,670,000 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