HF 2681

as introduced - 87th Legislature (2011 - 2012) Posted on 03/05/2012 01:52pm

A bill for an act
relating to capital investment; appropriating money for flood hazard mitigation
for the city of Brownton; authorizing the sale and issuance of state bonds.

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

Section 1. new text begin CITY OF BROWNTON; FLOOD HAZARD MITIGATION.
new text end

new text begin Subdivision 1. new text end

new text begin Appropriation. new text end

new text begin $750,000 is appropriated from the bond proceeds
fund to the commissioner of natural resources for the state share of flood hazard mitigation
grants for publicly owned capital improvements to prevent or alleviate flood damage under
Minnesota Statutes, section 103F.161. Levee projects, to the extent practicable, must meet
the state standard of three feet above the 100-year flood elevation. This appropriation is
for the acquisition of flooded homes in the city of Brownton.
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 $750,000 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