HF 2642

1st Committee Engrossment - 85th Legislature (2007 - 2008)

Posted on 12/22/2009 12:38 p.m.

1.1A bill for an act 1.2relating to capital improvements; appropriating money for infrastructure and 1.3other improvements for a steel mill in Itasca County; authorizing the sale and 1.4issuance of state bonds. 1.5BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA: 1.6    Section 1. new text begin APPROPRIATION. new text end 1.7 new text begin $67,000,000 is appropriated from the bond proceeds fund to the commissioner of new text end 1.8 new text begin employment and economic development for a grant to Itasca County for the building of new text end 1.9 new text begin a steel mill. Grant money will be used by Itasca County for roadway, railroad access, new text end 1.10 new text begin pipeline, water, sewer and electrical lines, and in cooperation with the Nashwauk new text end 1.11 new text begin municipal public utility to predesign, design, construct, and equip such lines. new text end 1.12    Sec. 2. new text begin BOND SALE. new text end 1.13 new text begin To provide the money appropriated in section 1 from the bond proceeds fund, new text end 1.14 new text begin the commissioner of finance shall sell and issue bonds of the state in an amount up to new text end 1.15 new text begin $67,000,000 in the manner, upon the terms, and with the effect prescribed by Minnesota new text end 1.16 new text begin Statutes, sections 16A.631 to 16A.675, and by the Minnesota Constitution, article XI, new text end 1.17 new text begin sections 4 to 7. new text end 1.18    Sec. 3. new text begin EFFECTIVE DATE. new text end 1.19 new text begin Sections 1 and 2 are effective the day following final enactment. new text end