HF 2527

as introduced - 84th Legislature (2005 - 2006) Posted on 12/15/2009 12:00am

A bill for an act
relating to capital improvements; providing for a
grant to the city of St. Paul to acquire land for and
remediate contamination in the Pierce Butler Corridor;
authorizing issuance of bonds; appropriating money.

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

Section 1. new text begin APPROPRIATION.
new text end

new text begin $10,000,000 is appropriated from the bond proceeds fund to
the commissioner of employment and economic development for a
grant to the city of St. Paul to acquire land for right-of-way
and to complete contamination remediation on Pierce Butler
between Interstate Highway I-35E and Lexington Parkway. This
appropriation is not available until at least an equal amount of
nonstate money has been committed to the project.
new text end

Sec. 2. new text begin BOND SALE.
new text end

new text begin To provide the money appropriated in section 1 from the
bond proceeds fund, the commissioner of finance shall sell and
issue bonds of the state in an amount up to $10,000,000 in the
manner, on 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

Sec. 3. new text begin EFFECTIVE DATE.
new text end

new text begin Sections 1 and 2 are effective the day following final
enactment.
new text end