HF 3117

as introduced - 81st Legislature (1999 - 2000) Posted on 12/15/2009 12:00am

  1.1                          A bill for an act 
  1.2             relating to capital improvements; authorizing spending 
  1.3             to acquire and to better public land and other public 
  1.4             improvements of a capital nature; authorizing issuance 
  1.5             of state bonds; appropriating money for gap financing 
  1.6             to construct the west segment of Phalen Boulevard from 
  1.7             I-35E to Payne Avenue of the Phalen corridor 
  1.8             initiative in the city of St. Paul. 
  1.9   BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA: 
  1.10     Section 1.  [APPROPRIATION.] 
  1.11     $10,000,000 is appropriated from the bond proceeds fund to 
  1.12  the commissioner of trade and economic development for a grant 
  1.13  to the city of St. Paul for gap financing to construct the west 
  1.14  segment of Phalen Boulevard from I-35E to Payne Avenue of the 
  1.15  Phalen corridor initiative. 
  1.16     Sec. 2.  [BOND SALE.] 
  1.17     To provide the money appropriated in section 1 from the 
  1.18  bond proceeds fund, the commissioner of finance shall sell and 
  1.19  issue bonds of the state in an amount up to $10,000,000, in the 
  1.20  manner, on the terms, and with the effect prescribed by 
  1.21  Minnesota Statutes, sections 16A.631 to 16A.675, and by the 
  1.22  Minnesota Constitution, article XI, sections 4 to 7. 
  1.23     Sec. 3.  [EFFECTIVE DATE.] 
  1.24     Sections 1 and 2 are effective the day following final 
  1.25  enactment.