HF 1057

as introduced - 84th Legislature (2005 - 2006) Posted on 12/15/2009 12:00am

A bill for an act
relating to capital investment; authorizing spending
to acquire and better public land and buildings and
public improvements of a capital nature with
conditions; appropriating money for Summit University
Teen Center in St. Paul; authorizing the issuance of
general obligation bonds.

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

Section 1. new text begin APPROPRIATION; CITY OF ST. PAUL, SUMMIT
UNIVERSITY TEEN CENTER.
new text end

new text begin $2,500,000 is appropriated from the bond proceeds fund to
the commissioner of employment and economic development for a
grant to the city of St. Paul to acquire, design, construct,
furnish, and equip the Summit University Teen Center, including
publicly owned housing and a day care center. This
appropriation is not available until the commissioner of finance
has determined that sufficient nonstate funds are committed to
the project to complete it. This appropriation is subject to
Minnesota Statutes, section 16A.695.
new text end

Sec. 2. new text begin BOND SALE.
new text end

new text begin To provide the money appropriated in section 1 from the
bond proceeds fund, the commissioner of finance shall sell and
issue bonds of the state in an amount up to $2,500,000 in the
manner, on 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