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HF 1745

as introduced - 87th Legislature (2011 - 2012) Posted on 02/28/2012 03:56pm

KEY: stricken = removed, old language.
underscored = added, new language.

Bill Text Versions

Engrossments
Introduction Posted on 05/20/2011

Current Version - as introduced

Line numbers 1.1 1.2 1.3 1.4
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1.17

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

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

Section 1. new text begin HORMEL INSTITUTE.
new text end

new text begin Subdivision 1. new text end

new text begin Appropriation. new text end

new text begin $13,750,000 is appropriated from the bond proceeds
fund to the commissioner of employment and economic development for a grant to
the Austin Port Authority to design, construct, furnish, and equip the expansion of the
Hormel Institute, subject to Minnesota Statutes, section16A.695. This appropriation is
not available until the commissioner determines that an amount sufficient to complete the
project has been committed 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 $13,750,000 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