HF 2667

as introduced - 89th Legislature (2015 - 2016) Posted on 04/18/2016 04:37pm

A bill for an act
relating to capital investment; appropriating money for a riverfront renaissance
project in Hastings; authorizing the sale and issuance of state bonds.

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

Section 1. new text begin RIVERFRONT RENAISSANCE; HASTINGS.
new text end

new text begin Subdivision 1. new text end

new text begin Appropriation. new text end

new text begin $1,500,000 is appropriated from the bond proceeds
fund to the commissioner of employment and economic development for a grant to the
city of Hastings for the design, engineering, constructing, and equipping of improvements
to the city's sewer, electrical, utility, and street infrastructure; for renovations and
improvements to Oliver's Grove Park; and screening of an electrical substation. These
projects are part of the rehabilitation of Hastings' historic downtown and Levee Park
along the Mississippi River. Expenditures made for Phases 1 and 2 of this project shall
count towards the nonstate match.
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 act from the bond
proceeds fund, the commissioner of management and budget shall sell and issue bonds of
the state in an amount up to $1,500,000 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