HF 3462

as introduced - 93rd Legislature (2023 - 2024) Posted on 02/12/2024 12:00pm

A bill for an act
relating to capital investment; appropriating money for riverfront public realm and
redevelopment in the city of Rochester; authorizing the sale and issuance of state
bonds.

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

Section 1. new text begin ROCHESTER; RIVERFRONT REDEVELOPMENT AND PUBLIC
REALM.
new text end

new text begin Subdivision 1. new text end

new text begin Appropriation. new text end

new text begin $23,275,000 is appropriated from the bond proceeds
fund to the commissioner of employment and economic development for a grant to the city
of Rochester for predesign; design; engineering; environmental analysis; site remediation
and preparation, including limited demolition; the acquisition of real property or interests
in real property; and construction of public realm improvements, including trail
improvements, tree planting, public wayfinding, public amenities, and related infrastructure
for the reuse of properties in the city of Rochester near the Government Center and Zumbro
River area envisioned by the Rochester Riverfront Area Wide Plan. Amounts expended by
the city of Rochester for acquisition, predesign, design, and engineering for this project
prior to the enactment of this section shall count toward the nonstate match.
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 $23,275,000 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