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Minnesota Legislature

Office of the Revisor of Statutes

HF 11

as introduced - 91st Legislature, 2019 1st Special Session (2019 - 2019) Posted on 05/24/2019 02:09pm

KEY: stricken = removed, old language.
underscored = added, new language.
Line numbers 1.1 1.2 1.3 1.4
1.5 1.6 1.7 1.8 1.9 1.10 1.11 1.12 1.13
1.14

A bill for an act
relating to capital investment; appropriating money for capital asset preservation
and replacement; authorizing the sale and issuance of state bonds.

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

Section 1. new text beginCAPITAL ASSET PRESERVATION AND REPLACEMENT ACCOUNT.
new text end

new text begin Subdivision 1. new text end

new text begin Appropriation. new text end

new text begin $5,000,000 is appropriated from the bond proceeds fund
to the commissioner of administration for the capital asset preservation and replacement
account to be spent in accordance with Minnesota Statutes, section 16A.632.
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 $5,000,000 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