1.1                          A bill for an act 
  1.2             relating to capital improvements; authorizing the 
  1.3             issuance of state bonds; appropriating money for 
  1.4             capital flood hazard mitigation in Breckenridge. 
  1.5   BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA: 
  1.6      Section 1.  [APPROPRIATION.] 
  1.7      $3,250,000 is appropriated from the bond proceeds fund to 
  1.8   the commissioner of natural resources for a capital flood hazard 
  1.9   mitigation grant to the city of Breckenridge. 
  1.10     To the extent that the cost of the project in Breckenridge 
  1.11  exceeds two percent of the median household income in the 
  1.12  municipality multiplied by the number of households in the 
  1.13  municipality, this appropriation is also for the local share of 
  1.14  the project. 
  1.15     Sec. 2.  [BOND SALE.] 
  1.16     To provide the money appropriated in this act from the bond 
  1.17  proceeds fund, the commissioner of finance shall sell and issue 
  1.18  bonds of the state in an amount up to $3,250,000 in the manner, 
  1.19  upon the terms, and with the effect prescribed by Minnesota 
  1.20  Statutes, sections 16A.631 to 16A.675, and by the Minnesota 
  1.21  Constitution, article XI, sections 4 to 7. 
  1.22     Sec. 3.  [EFFECTIVE DATE.] 
  1.23     Sections 1 and 2 are effective the day following final 
  1.24  enactment.