as introduced - 83rd Legislature (2003 - 2004) Posted on 12/15/2009 12:00am
1.1 A bill for an act 1.2 relating to the environment; appropriating money and 1.3 authorizing bonds for wastewater infrastructure grants 1.4 to the Larsmont portion of the Knife River-Larsmont 1.5 sanitary district. 1.6 BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA: 1.7 Section 1. [WASTEWATER INFRASTRUCTURE GRANTS; KNIFE 1.8 RIVER-LARSMONT.] 1.9 Subdivision 1. [APPROPRIATION.] $1,500,000 is appropriated 1.10 from the bond proceeds fund to the public facilities authority 1.11 for wastewater infrastructure grants to the Larsmont portion of 1.12 the Knife River-Larsmont sanitary district. This appropriation 1.13 must be used to reduce the amount of the municipality's loan 1.14 from the water pollution control revolving fund that exceeds 1.15 five percent of the market value of the properties in the 1.16 project service area. This appropriation is in addition to 1.17 grants from other appropriations. 1.18 Subd. 2. [BOND SALE.] To provide money appropriated in 1.19 this act from the bond proceeds fund, the commissioner of 1.20 finance shall sell and issue bonds of the state in an amount up 1.21 to $1,500,000 in the manner, upon the terms, and with the effect 1.22 prescribed by Minnesota Statutes, sections 16A.631 to 16A.675, 1.23 and by the Minnesota Constitution, article XI, sections 4 to 7.