HF 2864

Introduction - 84th Legislature (2005 - 2006)

Posted on 12/15/2009 12:00 a.m.

A bill for an act
relating to capital improvements; authorizing the issuance of state bonds;
appropriating money for metropolitan regional park acquisition and betterment.

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

Section 1. new text begin APPROPRIATION.
new text end

new text begin $15,000,000 is appropriated from the bond proceeds fund to the commissioner of
natural resources for a grant to the Metropolitan Council. The commissioner shall pay the
amount on a reimbursement basis to the Metropolitan Council upon receipt of a certified
copy of a council resolution requesting payment. The appropriation must be used to pay
the cost of improvements and betterments of a capital nature, and acquisition by the
council and local government units of regional recreational open-space lands in accordance
with the council's policy plan as provided in Minnesota Statutes, section 473.315.
new text end

Sec. 2. new text begin BOND SALE.
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new text begin To provide the money appropriated in section 1 from the bond proceeds fund,
the commissioner of finance shall sell and issue bonds of the state in an amount up to
$15,000,000 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

Sec. 3. new text begin EFFECTIVE DATE.
new text end

new text begin Sections 1 and 2 are effective the day following final enactment.
new text end