HF 2948

as introduced - 93rd Legislature (2023 - 2024) Posted on 03/16/2023 02:36pm

A bill for an act
relating to capital investment; appropriating money for the Redwood Falls public
library; authorizing the sale and issuance of state bonds.

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

Section 1. REDWOOD FALLS; PUBLIC LIBRARY.

Subdivision 1.

Appropriation.

$1,500,000 is appropriated from the bond proceeds fund
to the commissioner of education for a grant to the city of Redwood Falls to construct,
furnish, and equip a renovation and expansion of the city's public library building.

Subd. 2.

Bond sale.

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 $1,500,000 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.

EFFECTIVE DATE.

This section is effective the day following final enactment.