HF 2804

as introduced - 92nd Legislature (2021 - 2022) Posted on 01/31/2022 10:47am

A bill for an act
relating to capital investment; appropriating money for capital improvements to
Levee Road and the Upper Harbor-Bay Point redevelopment project area in the
city of Red Wing; authorizing the sale and issuance of state bonds.

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

Section 1. new text begin RED WING; UPPER HARBOR-BAY POINT PHASE II.
new text end

new text begin Subdivision 1. new text end

new text begin Appropriation. new text end

new text begin $4,100,000 is appropriated from the bond proceeds fund
to the commissioner of employment and economic development for a grant to the city of
Red Wing for site preparation, design, engineering, and construction of capital improvements
to Levee Road and the Upper Harbor-Bay Point redevelopment project area. This
appropriation includes money for the realignment of Levee Road, parking, sidewalks and
trails, a riverfront promenade, lighting, storm sewer improvements, railroad quiet zone
improvements, and other ancillary improvements to redevelop the project area into a public
park and open space. This appropriation is available after the commissioner of management
and budget determines that an amount sufficient to complete the project has been committed
to the project 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 $4,100,000 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