1.1                          A bill for an act
  1.2             relating to capital improvements; authorizing spending 
  1.3             to acquire and to better public land and other public 
  1.4             improvements of a capital nature; providing for a 
  1.5             grant to the city of Floodwood; authorizing issuance 
  1.6             of bonds; appropriating money. 
  1.7   BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA: 
  1.8      Section 1.  [APPROPRIATION.] 
  1.9      $975,000 is appropriated from the bond proceeds fund to the 
  1.10  commissioner of trade and economic development for a grant to 
  1.11  the city of Floodwood for development of a business and 
  1.12  industrial park; including design, acquisition of land, and 
  1.13  construction of infrastructure; including sewer, water, and 
  1.14  roads; subject to the requirements of Minnesota Statutes, 
  1.15  section 16A.695. 
  1.16     Sec. 2.  [BOND SALE.] 
  1.17     To provide the money appropriated in section 1 from the 
  1.18  bond proceeds fund, the commissioner of finance shall sell and 
  1.19  issue bonds of the state in an amount up to $975,000 in the 
  1.20  manner, on the terms, and with the effect prescribed by 
  1.21  Minnesota Statutes, sections 16A.631 to 16A.675, and by the 
  1.22  Minnesota Constitution, article XI, sections 4 to 7. 
  1.23     Sec. 3.  [EFFECTIVE DATE.] 
  1.24     Sections 1 and 2 are effective the day following final 
  1.25  enactment.