SF 2015

Introduction - 94th Legislature (2025 - 2026)

Posted on 02/28/2025 11:03 a.m.

A bill for an act
relating to capital investment; appropriating money for flood mitigation in the city
of Moorhead, Clay County, and the Buffalo-Red River Watershed District;
authorizing the sale and issuance of state bonds.

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

Section 1. new text begin MOORHEAD, CLAY COUNTY, AND THE BUFFALO-RED RIVER
WATERSHED DISTRICT; FLOOD MITIGATION.
new text end

new text begin Subdivision 1. new text end

new text begin Appropriation. new text end

new text begin $60,400,000 is appropriated from the bond proceeds
fund to the commissioner of natural resources for the state share of flood hazard mitigation
grants for publicly owned capital improvements to prevent or alleviate flood damage under
Minnesota Statutes, section 103F.161, for flood mitigation projects in the city of Moorhead,
Clay County, and the Buffalo-Red River Watershed District. To the extent that the cost of
a project exceeds two percent of the median household income in a municipality or township
multiplied by the number of households in the municipality, this appropriation is also for
the local share of a 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 $60,400,000 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