SF 2355

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 Otter Tail River restoration.

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

Section 1. new text begin APPROPRIATION.
new text end

new text begin $320,000 is appropriated from the bond proceeds fund to the commissioner of
natural resources for a grant to the city of Ottertail for design and construction of river
restoration projects on the Otter Tail River.
new text end

new text begin The appropriation is not available until the commissioner determines that $80,000
has been committed to the project from nonstate sources.
new text end

Sec. 2. new text begin BOND SALE.
new text end

new text begin To provide the money appropriated in this act from the bond proceeds fund, the
commissioner of finance shall sell and issue bonds of the state in an amount up to
$320,000 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