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

1.6 	Section 1. FLOODWOOD; WATER AND SEWER INFRASTRUCTURE.
 1.7 		Subdivision 1.Appropriation. $1,500,000 is appropriated from the bond proceeds fund 
1.8 	to the Public Facilities Authority for a grant to the city of Floodwood to design and construct  
1.9 	capital improvements to the city's water and sewer infrastructure along County Road 832 
1.10 	(Floodwood Road). This appropriation includes money for replacement and expansion of 
1.11 	water and sewer mains and associated street reconstruction to enhance business and 
1.12 	residential development.
1.13 		Subd. 2.Bond sale. To provide the money appropriated in this section from the bond 
1.14 	proceeds fund, the commissioner of management and budget shall sell and issue bonds of 
1.15 	the state in an amount up to $1,500,000 in the manner, upon the terms, and with the effect 
1.16 	prescribed by Minnesota Statutes, sections 16A.631 to 16A.675, and by the Minnesota 
1.17 	Constitution, article XI, sections 4 to 7.

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