HF 2204

as introduced - 89th Legislature (2015 - 2016) Posted on 04/13/2015 01:35pm

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

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

Section 1. new text begin STATE TRAILS; BONDS.
new text end

new text begin Subdivision 1. new text end

new text begin State trail construction. new text end

new text begin $100,000,000 is appropriated from the
bond proceeds fund to the commissioner of natural resources to acquire land for and
to construct state trails.
new text end

new text begin Subd. 2. new text end

new text begin State trails maintenance. new text end

new text begin $35,000,000 is appropriated from the bond
proceeds fund to the commissioner of natural resources to renovate state trails.
new text end

new text begin Subd. 3. new text end

new text begin Bond sale. new text end

new text begin To provide the money appropriated in subdivisions 1 and 2
from the bond proceeds fund, the commissioner of management and budget shall sell and
issue bonds of the state in an amount up to $135,000,000 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