HF 1753

as introduced - 80th Legislature (1997 - 1998) Posted on 12/15/2009 12:00am

  1.1                          A bill for an act
  1.2             relating to bonds; reducing certain earlier project 
  1.3             authorizations; amending Minnesota Statutes 1996, 
  1.4             section 475A.06, subdivision 7. 
  1.5   BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA: 
  1.6      Section 1.  Minnesota Statutes 1996, section 475A.06, 
  1.7   subdivision 7, is amended to read: 
  1.8      Subd. 7.  [AUTHORITY FOR BONDS; LIMIT; APPROPRIATION 
  1.9   PURPOSE; PROCEDURAL SOURCES.] The commissioner of finance is 
  1.10  authorized to sell and issue Minnesota state municipal aid bonds 
  1.11  in an aggregate principal amount not to exceed 
  1.12  $4,330,000 $3,698,000, the proceeds of which, except as provided 
  1.13  in subdivision 1, are appropriated to the state municipal bond 
  1.14  guaranty fund for the purpose of providing funds to be loaned to 
  1.15  municipalities for the acquisition and betterment of public 
  1.16  lands and buildings and other public improvements of a capital 
  1.17  nature, when needed to pay the principal of or interest on bonds 
  1.18  issued for this purpose or bonds issued to refund such 
  1.19  guaranteed bonds, in accordance with the provisions of sections 
  1.20  475A.01 to 475A.06.  The bonds shall be sold, issued, and 
  1.21  secured as provided in subdivisions 1 to 6 and in Article XI, 
  1.22  Section 7 of the Constitution. 
  1.23     Sec. 2.  [BOND SALE AUTHORIZATIONS REDUCED.] 
  1.24     The bond sale authorizations in the following laws are 
  1.25  reduced by the amounts indicated: 
  2.1      (1) Laws of 1989, chapter 300, article 1, section 23, 
  2.2   subdivision 1, is reduced by $3,335,000. 
  2.3      (2) Laws of 1990, chapter 610, article 1, section 30, 
  2.4   subdivision 1, is reduced by $9,280,000. 
  2.5      (3) Laws of 1990, chapter 610, article 1, section 30, 
  2.6   subdivision 3, is reduced by $165,000. 
  2.7      (4) Laws of 1991, chapter 350, article 1, section 2, 
  2.8   subdivision 1, is reduced by $48,765,000. 
  2.9      (5) Laws of 1992, chapter 558, section 28, subdivision 1, 
  2.10  is reduced by $6,590,000. 
  2.11     (6) Laws of 1993, chapter 373, section 19, subdivision 1, 
  2.12  is reduced by $10,000. 
  2.13     (7) Laws of 1996, chapter 463, section 27, subdivision 1, 
  2.14  is reduced by $37,285,000.