HF 2764

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

A bill for an act
relating to capital improvements; authorizing the issuance of state bonds;
appropriating money for Austin flood relief.

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

Section 1. new text begin APPROPRIATION.
new text end

new text begin $5,000,000 is appropriated from the bond proceeds fund to the commissioner of
employment and economic development for grants to the city of Austin to assist with
the cost of rehabilitation and replacement of publicly owned infrastructure including
storm sewers, wastewater and municipal utility service, drinking water systems, and other
infrastructure damaged by flooding in the area designated under Presidential Declaration
of Major Disaster, DR-1569, whether included in the original declaration or added later by
federal government action. This appropriation may also be used to acquire real property
substantially damaged by flooding, or to prevent or alleviate flooding in the area included
in DR-1569.
new text end

new text begin For the purposes of this appropriation, criteria, limitations, and repayment
requirements in Minnesota Statutes, sections 103F.161; 446A.07; 446A.072; and
446A.081, are waived.
new text end

Sec. 2. new text begin BOND AUTHORIZATION.
new text end

new text begin To provide the money appropriated in this act from the bond proceeds fund, the
commissioner of finance shall sell and issue bonds of the state in an amount up to
$5,000,000 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 This act is effective the day following final enactment.
new text end