HF 497

as introduced - 83rd Legislature (2003 - 2004) Posted on 12/15/2009 12:00am

  1.1                          A bill for an act
  1.2             relating to capital improvements; providing for a 
  1.3             grant to Koochiching county for construction of a 
  1.4             testing, educational, and training facility; 
  1.5             authorizing issuance of bonds; appropriating money. 
  1.6   BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA: 
  1.7      Section 1.  [APPROPRIATION.] 
  1.8      $....... is appropriated from the bond proceeds fund to the 
  1.9   commissioner of trade and economic development for a grant to 
  1.10  Koochiching county to design, construct, furnish, and equip a 
  1.11  testing, educational, and training facility.  This appropriation 
  1.12  is not available until the commissioner of trade and economic 
  1.13  development has determined that the necessary additional 
  1.14  financing to complete the project has been committed from 
  1.15  nonstate sources. 
  1.16     Sec. 2.  [BOND SALE.] 
  1.17     To provide the money appropriated in section 1 from the 
  1.18  bond proceeds fund, the commissioner of finance shall sell and 
  1.19  issue bonds of the state in an amount up to $....... in the 
  1.20  manner, on the terms, and with the effect prescribed by 
  1.21  Minnesota Statutes, sections 16A.631 to 16A.675, and by the 
  1.22  Minnesota Constitution, article XI, sections 4 to 7. 
  1.23     Sec. 3.  [EFFECTIVE DATE.] 
  1.24     Sections 1 and 2 are effective the day following final 
  1.25  enactment.