HF 2268

2nd Engrossment - 79th Legislature (1995 - 1996) Posted on 12/15/2009 12:00am

  1.1                          A bill for an act 
  1.2             relating to housing; authorizing state bonds; 
  1.3             appropriating money for loans to cities for the 
  1.4             neighborhood land trust program. 
  1.5   BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA: 
  1.6      Section 1.  [APPROPRIATION; NEIGHBORHOOD LAND TRUST 
  1.7   PROGRAM.] 
  1.8      $2,500,000 is appropriated from the bond proceeds fund to 
  1.9   the Minnesota housing finance agency's local government unit 
  1.10  housing account established in Minnesota Statutes, section 
  1.11  462A.202, for loans with or without interest to a city to 
  1.12  purchase or acquire land and buildings for purposes of the 
  1.13  neighborhood land trust program under Minnesota Statutes, 
  1.14  sections 462A.30 and 462A.31, upon terms and conditions the 
  1.15  agency determines. 
  1.16     Sec. 2.  [BONDS.] 
  1.17     To provide the money appropriated in this act from the bond 
  1.18  proceeds fund, the commissioner of finance, on request of the 
  1.19  governor, shall sell and issue bonds of the state in an amount 
  1.20  up to $2,500,000 in the manner, upon the terms, and with the 
  1.21  effect prescribed by Minnesota Statutes, sections 16A.631 to 
  1.22  16A.675, and by the Minnesota Constitution, article XI, sections 
  1.23  4 to 7.