SF 1488

Introduction - 87th Legislature (2011 - 2012)

Posted on 01/25/2012 08:42 a.m.

A bill for an act
relating to capital investment; appropriating money for a grant to the city of
Deer River for a wastewater stabilization pond expansion; authorizing the sale
and issuance of state bonds.

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

Section 1. new text begin DEER RIVER WASTEWATER STABILIZATION POND.
new text end

new text begin Subdivision 1. new text end

new text begin Appropriation. new text end

new text begin $700,000 is appropriated from the bond proceeds
fund to the commissioner of employment and economic development for a grant to
the city of Deer River to design and construct wastewater system improvements to the
city's wastewater treatment pond system. This appropriation is not available until the
commissioner determines that at least an equal amount is committed to the project.
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 $700,000 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