HF 1041

as introduced - 89th Legislature (2015 - 2016) Posted on 03/29/2016 12:35pm

A bill for an act
relating to capital investment; appropriating money for flood damage reduction
measures in the DeCola Ponds and Medicine Lake Road watershed; authorizing
the sale and issuance of state bonds.

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

Section 1. new text begin GOLDEN VALLEY, FLOOD DAMAGE REDUCTION.
new text end

new text begin Subdivision 1. new text end

new text begin Appropriation. new text end

new text begin $24,000,000 is appropriated from the bond proceeds
fund to the commissioner of natural resources for a flood hazard mitigation grant to the
city of Golden Valley to implement flood damage reduction measures within the DeCola
Ponds and Medicine Lake Road watershed in the cities of Golden Valley, New Hope, and
Crystal, including creation of flood water storage, subwatershed diversion, and runoff rate
control projects. Notwithstanding Minnesota Statutes, section 103F.161, subdivision 2,
this appropriation does not require a nonstate contribution.
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 $24,000,000 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

new text begin EFFECTIVE DATE. new text end

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