HF 2080

as introduced - 88th Legislature (2013 - 2014) Posted on 02/25/2014 03:02pm

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

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

Section 1. new text begin FOSSTON STREET IMPROVEMENT.
new text end

new text begin Subdivision 1. new text end

new text begin Appropriation. new text end

new text begin $400,000 is appropriated from the bond proceeds
fund to the commissioner of transportation for a grant to the city of Fosston to reconstruct
2nd Street South in the city of Fosston. The project includes removal of the old street and
old sewer and water lines, and reconstruction of the street to ten-ton capacity with new
sewer and water lines. This appropriation is to be used in conjunction with the grant
made to the city under the local road improvement program and not available until the
commissioner of management and budget determines that at least $500,000 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 $400,000 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