HF 4230

as introduced - 93rd Legislature (2023 - 2024) Posted on 02/26/2024 02:20pm

A bill for an act
relating to capital investment; appropriating money for the city of Proctor to provide
utility extensions and upgrades for marked Interstate Highway 35 commercial
development; authorizing the sale and issuance of state bonds.

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

Section 1. new text begin PROCTOR; UTILITY EXTENSIONS AND UPGRADES.
new text end

new text begin Subdivision 1. new text end

new text begin Appropriation. new text end

new text begin $3,500,000 is appropriated from the bond proceeds fund
to the Public Facilities Authority for a grant to the city of Proctor to predesign, design, and
construct water, sewer, and electric utility extensions from Ugstad Road on the north side
of marked Interstate Highway 35 to the south side and extend along the frontage road and
utility replacements from Ugstad Road on the north side of marked Interstate Highway 35
to 2nd Street. This appropriation does not require a 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 $3,500,000 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