HF 2641

as introduced - 88th Legislature (2013 - 2014) Posted on 03/03/2014 03:06pm

A bill for an act
relating to capital investment; appropriating money for acquisition and
redevelopment of the Jefferson High School site in Alexandria; authorizing the
sale and issuance of state bonds.

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

Section 1. new text begin ALEXANDRIA; REDEVELOPMENT OF JEFFERSON HIGH
SCHOOL SITE.
new text end

new text begin Subdivision 1. new text end

new text begin Appropriation. new text end

new text begin $2,900,000 is appropriated from the bond
proceeds fund to the commissioner of employment and economic development for the
redevelopment grant program under Minnesota Statutes, sections 116J.571 to 116J.575,
for a grant to the Lakes Area Economic Development Authority to acquire and redevelop
the Jefferson High School site in the city of Alexandria. This appropriation is not available
until the commissioner of management and budget determines that at least $2,600,000 is
committed to the project from nonstate sources.
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 $2,900,000 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