HF 3592

as introduced - 93rd Legislature (2023 - 2024) Posted on 02/13/2024 03:51pm

A bill for an act
relating to capital investment; appropriating money for capital improvements to
the 36-inch water main located 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 36-INCH WATER MAIN.
new text end

new text begin Subdivision 1. new text end

new text begin Appropriation. new text end

new text begin $8,340,000 is appropriated from the bond proceeds fund
to the Public Facilities Authority for a grant to the city of Minneapolis to install a structural
liner along 2.6 miles within the 36-inch water main running under Second Street North and
Washington Avenue North. This appropriation is available when the commissioner of
management and budget determines sufficient resources have 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 $8,340,000 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