HF 3661

as introduced - 93rd Legislature (2023 - 2024) Posted on 02/13/2024 03:52pm

A bill for an act
relating to capital investment; appropriating money for public infrastructure
improvements in the downtown area of the city of St. Cloud; authorizing the sale
and issuance of state bonds.

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

Section 1. new text begin ST. CLOUD; DOWNTOWN REVITALIZATION PROJECT.
new text end

new text begin Subdivision 1. new text end

new text begin Appropriation. new text end

new text begin $100,000,000 is appropriated from the bond proceeds
fund to the commissioner of employment and economic development for a grant to the city
of St. Cloud to acquire property, right-of-way, and easements for and to predesign, design,
construct, rehabilitate, furnish, and equip public infrastructure in the downtown area of the
city of St. Cloud to facilitate economic growth, pedestrian safety, access to the Mississippi
River, and connectivity to housing and medical and educational institutions. For the purpose
of this section, "public infrastructure" includes but is not limited to water and sewer systems,
utility infrastructure, streets, sidewalks, stormwater management systems, parking, public
housing, skyways, and pedestrian safety infrastructure.
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 $100,000,000 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