HF 2436

as introduced - 90th Legislature (2017 - 2018) Posted on 03/16/2017 01:29pm

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

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

Section 1. GLACIAL LAKES TRAIL.

Subdivision 1.

Appropriation.

$2,590,000 is appropriated from the bond proceeds fund
to the commissioner of natural resources to acquire land and develop an approximately
five-mile spur from the Glacial Lakes Trail through New London and into Sibley State Park,
including a separated grade crossing of Trunk Highway 71 and a separated grade crossing
of County Highway 40.

Subd. 2.

Bond sale.

To provide the money appropriated in subdivision 1 from the bond
proceeds fund, the commissioner of management and budget shall sell and issue bonds of
the state in an amount up to $2,590,000 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.

EFFECTIVE DATE.

This section is effective the day following final enactment.