HF 2897

as introduced - 88th Legislature (2013 - 2014) Posted on 03/10/2014 01:12pm

A bill for an act
relating to capital investment; appropriating money for a Mississippi River trail
and trailhead in Red Wing; authorizing the sale and issuance of state bonds.

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

Section 1. new text begin MISSISSIPPI RIVER TRAIL, RED WING.
new text end

new text begin Subdivision 1. new text end

new text begin Appropriation. new text end

new text begin $5,752,000 is appropriated from the bond proceeds
fund to the commissioner of employment and economic development for a grant to the
city of Red Wing to design and construct a trail and trailhead along the Mississippi River
extending from Levee Park to the Barn Bluff Trailhead to Colvill Park in Red Wing. This
grant is not available until the commissioner of management and budget determines that at
least an equal amount is committed to the project from nonstate sources.
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 $5,752,000 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