HF 2417

as introduced - 92nd Legislature (2021 - 2022) Posted on 03/25/2021 02:11pm

A bill for an act
relating to capital investment; appropriating money for the redevelopment of the
Charley Arne property in the city of Spicer; authorizing the sale and issuance of
state bonds.

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

Section 1. new text begin CITY OF SPICER; CHARLEY ARNE PROPERTY REDEVELOPMENT.
new text end

new text begin Subdivision 1. new text end

new text begin Appropriation. new text end

new text begin $3,100,000 is appropriated from the bond proceeds fund
to the commissioner of employment and economic development for a grant to the city of
Spicer to construct, equip, and furnish property, known as the Charley Arne property, for
a housing complex that includes residential, multifamily, and assisted senior living facilities.
This appropriation includes the extension of water and sewer infrastructure, storm sewer
system, and local road improvements related to the project.
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 $3,100,000 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