HF 3597

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 a greater Minnesota business
development grant in Crookston; authorizing the sale and issuance of state bonds.

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

Section 1. new text begin CROOKSTON; BUSINESS DEVELOPMENT PUBLIC
INFRASTRUCTURE.
new text end

new text begin Subdivision 1. new text end

new text begin Appropriation. new text end

new text begin $895,000 is appropriated from the bond proceeds fund
to the commissioner of employment and economic development for a grant under Minnesota
Statutes, section 116J.431, to the city of Crookston for development of the southern end of
the city limits commonly known as the Colborn Property. This appropriation includes money
for construction of roads and stormwater infrastructure, for site preparation, and for other
improvements of publicly owned infrastructure.
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 $895,000 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