1.1 	A bill for an act
1.2 	relating to capital investment; appropriating money for stormwater pond 
1.3 	improvements in the city of Loretto; authorizing the sale and issuance of state 
1.4 	bonds.
1.5 	BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA:

1.6 	Section 1. LORETTO; STORMWATER POND IMPROVEMENTS.
 1.7 		Subdivision 1.Appropriation. $500,000 is appropriated from the bond proceeds fund 
1.8 	to the commissioner of natural resources for a grant to the city of Loretto for capital 
1.9 	improvements to improve water quality in stormwater ponds in the city of Loretto, including 
1.10 	predesign, design, engineering, dredging, and removal and disposal of sediment from 
1.11 	stormwater ponds.
1.12 		Subd. 2.Bond sale. To provide the money appropriated in this section from the bond 
1.13 	proceeds fund, the commissioner of management and budget shall sell and issue bonds of 
1.14 	the state in an amount up to $500,000 in the manner, upon the terms, and with the effect 
1.15 	prescribed by Minnesota Statutes, sections 16A.631 to 16A.675, and by the Minnesota 
1.16 	Constitution, article XI, sections 4 to 7.

1.17 	EFFECTIVE DATE. This section is effective the day following final enactment.