HF 491

as introduced - 84th Legislature (2005 - 2006) Posted on 12/15/2009 12:00am

A bill for an act
relating to capital improvements; authorizing the
issuance of state bonds; appropriating money to
Hennepin County for affordable and supportive housing
units.

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

Section 1. new text begin APPROPRIATION.
new text end

new text begin $8,500,000 is appropriated from the bond proceeds fund to
the Housing Finance Agency for a grant to the Hennepin County
Housing and Redevelopment Authority to build 64 units of
affordable, stable, and supportive housing including some units
targeted at those experiencing long-term homelessness. The site
is to be owned by the grantee above a nonprofit social service
provider's site, and will be operated by the social service
provider subject to Minnesota Statutes, section 16A.695.
new text end

Sec. 2. new text begin BOND SALE.
new text end

new text begin To provide the money appropriated in this act from the bond
proceeds fund, the commissioner of finance shall sell and issue
bonds of the state in an amount up to $8,500,000 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

Sec. 3. new text begin EFFECTIVE DATE.
new text end

new text begin Sections 1 and 2 are effective the day following final
enactment.
new text end