HF 936

as introduced - 91st Legislature (2019 - 2020) Posted on 02/11/2019 02:16pm

A bill for an act
relating to capital investment; appropriating money for a grant to the city of Hibbing
for the mine view project; authorizing the sale and issuance of state bonds.

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

Section 1. new text begin HIBBING; MINE VIEW "WINDOWS TO THE WORLD."
new text end

new text begin Subdivision 1. new text end

new text begin Appropriation. new text end

new text begin $1,500,000 is appropriated from the bond proceeds fund
to the commissioner of employment and economic development for a grant to the city of
Hibbing to construct the mine view "Windows to the World" facility on the Susquehanna
mine dump. This appropriation is available when the commissioner of management and
budget determines that sufficient resources have been committed to complete the project,
as required by Minnesota Statutes, section 16A.502. The total project is estimated to cost
$3,000,000.
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 $1,500,000 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

new text begin EFFECTIVE DATE. new text end

new text begin This section is effective the day following final enactment.
new text end