HF 2644

as introduced - 86th Legislature (2009 - 2010) Posted on 02/09/2010 11:32pm

A bill for an act
relating to capital improvements; appropriating money for flood hazard
mitigation in the city of Oslo in Marshall 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 OSLO FLOOD CONTROL.
new text end

new text begin Subdivision 1. new text end

new text begin Appropriation. new text end

new text begin $5,755,000 is appropriated from the bond proceeds
fund to the commissioner of natural resources for the state share of a flood hazard
mitigation grant to the city of Oslo in Marshall County for publicly owned capital
improvements to prevent or alleviate flood damage under Minnesota Statutes, section
103F.161.
new text end

new text begin To the extent that the cost of the project in Oslo exceeds two percent of the median
household income in the municipality multiplied by the number of households in the
municipality, this appropriation is also for the local share of 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 $5,755,000 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. 2. new text begin EFFECTIVE DATE.
new text end

new text begin This act is effective the day following final enactment.
new text end