HF 2864

as introduced - 84th Legislature (2005 - 2006) 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 metropolitan regional park acquisition and betterment.

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

Section 1. new text begin APPROPRIATION.
new text end

new text begin $15,000,000 is appropriated from the bond proceeds fund to the commissioner of
natural resources for a grant to the Metropolitan Council. The commissioner shall pay the
amount on a reimbursement basis to the Metropolitan Council upon receipt of a certified
copy of a council resolution requesting payment. The appropriation must be used to pay
the cost of improvements and betterments of a capital nature, and acquisition by the
council and local government units of regional recreational open-space lands in accordance
with the council's policy plan as provided in Minnesota Statutes, section 473.315.
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
$15,000,000 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