HF 3668

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 construction of the Drill
Core Library; authorizing the sale and issuance of state bonds.

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

Section 1. new text begin DRILL CORE LIBRARY.
new text end

new text begin Subdivision 1. new text end

new text begin Appropriation. new text end

new text begin (a) $12,000,000 is appropriated from the bond proceeds
fund to the commissioner of natural resources for the construction of Drill Core Library
Building #4 and associated facility components at the Drill Core Library in the city of
Hibbing.
new text end

new text begin (b) Upon substantial completion of the project authorized in this section and after written
notice to the commissioner of management and budget, the commissioner of natural resources
may use any money remaining in this appropriation for asset preservation under Minnesota
Statutes, section 84.946. Minnesota Statutes, section 16A.642, applies from the date of the
original appropriation to the unspent amount transferred.
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 subdivision 1 from the bond
proceeds fund, the commissioner of management and budget shall sell and issue bonds of
the state in an amount up to $12,000,000 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