HF 3586

as introduced - 91st Legislature (2019 - 2020) Posted on 02/20/2020 01:17pm

A bill for an act
relating to capital investment; appropriating money for water, wastewater, and
storm water system improvements in Vernon Center; authorizing the sale and
issuance of state bonds.

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

Section 1. new text begin VERNON CENTER; WATER, WASTEWATER INFRASTRUCTURE.
new text end

new text begin Subdivision 1. new text end

new text begin Appropriation. new text end

new text begin $7,984,000 is appropriated from the bond proceeds fund
to the Public Facilities Authority for a grant to the city of Vernon Center to predesign,
design, construct, and equip the water and wastewater collection and treatment systems, the
storm water system, and to reconstruct the street as needed due to the water and wastewater
utility improvements. This appropriation is not available until the commissioner of
management and budget determines that $3,692,000 has been committed from other sources
to complete the project.
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 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 $7,984,000 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