HF 3123

as introduced - 92nd Legislature (2021 - 2022) Posted on 02/03/2022 03:30pm

A bill for an act
relating to capital investment; appropriating money for the Northern Links Trail;
authorizing the sale and issuance of state bonds.

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

Section 1. new text begin NORTHERN LINKS TRAIL.
new text end

new text begin Subdivision 1. new text end

new text begin Appropriation. new text end

new text begin $750,000 is appropriated from the bond proceeds fund
to the commissioner of natural resources for a grant under Minnesota Statutes, section
85.019, subdivision 4c, to the city of Faribault for development of the Northern Links Trail,
a connection to the Sakatah Singing Hills State Trail. This appropriation is not available
until the commissioner of management and budget determines that sufficient resources have
been committed to complete 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 $750,000 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