as introduced - 90th Legislature (2017 - 2018) Posted on 03/14/2018 02:16pm
A bill for an act
relating to capital investment; appropriating money for redevelopment of the Upper
Harbor Terminal in Minneapolis; authorizing the sale and issuance of state bonds.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA:
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$15,000,000 is appropriated from the bond proceeds
fund to the commissioner of employment and economic development for a grant to the city
of Minneapolis, the Minneapolis Park and Recreation Board, or both, for predevelopment,
predesign, design, and construction work for site preparation and for park and public
infrastructure improvements to support an initial phase of redevelopment of the Upper
Harbor Terminal on the Mississippi River; a site that was rendered inoperable for barging
by the federal closure of the Upper St. Anthony Fall Lock. This appropriation is available
when the commissioner of management and budget determines that sufficient resources
have been committed to complete the project, as required by Minnesota Statutes, section
16A.502.
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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 $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.
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This section is effective the day following final enactment.
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