HF 1025

as introduced - 86th Legislature (2009 - 2010) Posted on 02/09/2010 01:43am

A bill for an act
relating to capital improvements; authorizing the issuance of state bonds;
appropriating money for flood mitigation in the city of Austin.

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

Section 1. AUSTIN FLOOD MITIGATION.

Subdivision 1.

Appropriation.

$5,704,000 is appropriated from the bond proceeds
fund to the commissioner of natural resources for a flood hazard mitigation grant to the
city of Austin for publicly owned capital improvements to prevent or alleviate flood
damage under Minnesota Statutes, section 103F.161.

Subd. 2.

Bond sale.

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 $5,704,000 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.

Sec. 2. EFFECTIVE DATE.

Section 1 is effective the day following final enactment.