HF 603

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 for
Austin flooding.

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

Section 1. new text begin APPROPRIATION.
new text end

new text begin $2,000,000 is appropriated from the bond proceeds fund to
the commissioner of employment and economic development for
grants to local units of government to assist with the cost of
rehabilitation and replacement of publicly owned infrastructure,
including storm sewers, wastewater and municipal utility
service, drinking water systems, and other infrastructure
damaged by flooding in the area designated under Presidential
Declaration of Major Disaster, DR-1569, whether included in the
original declaration or added later by federal government action.
new text end

new text begin This appropriation may also be used to acquire real
property substantially damaged by flooding in the area included
in DR-1569.
new text end

new text begin For the purposes of this appropriation, criteria,
limitations, and repayment requirements in Minnesota Statutes,
sections 446A.07, 446A.072, and 446A.081, are waived.
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 $2,000,000 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