HF 1274

as introduced - 88th Legislature (2013 - 2014) Posted on 03/05/2013 11:24am

A bill for an act
relating to capital investment; appropriating money for a grant to the city of Isle for
water and sewer infrastructure; authorizing the sale and issuance of state bonds.

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

Section 1. new text begin CITY OF ISLE; INFRASTRUCTURE GRANT.
new text end

new text begin Subdivision 1. new text end

new text begin Appropriation. new text end

new text begin $850,000 is appropriated from the bond proceeds
fund to the commissioner of employment and economic development for a grant to
the city of Isle to replace a water main that serves residents along Isle Street, and to
design, engineer, and construct sewer and water main extensions to serve a 40-acre
annexation area and a sewer and water main extension to serve the Maple Street area.
This appropriation is not available until the commissioner of management and budget
determines that at least an equal amount is committed to the project from nonstate sources.
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 $850,000 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