HF 2642

as introduced - 85th Legislature (2007 - 2008) Posted on 12/15/2009 12:00am

A bill for an act
relating to capital improvements; appropriating money for infrastructure and
other improvements for a steel mill in Itasca County; authorizing the sale and
issuance of state bonds.

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

Section 1. new text begin APPROPRIATION.
new text end

new text begin $67,000,000 is appropriated from the bond proceeds fund to the commissioner
of natural resources for a grant to Itasca County for the building of a steel mill. Grant
money will be used by Itasca County for roadway, railroad access, pipeline, water, sewer
and electrical lines, and in cooperation with the Nashwauk municipal public utility to
predesign, design, construct, and equip such lines.
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
$67,000,000 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

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