HF 3718

as introduced - 93rd Legislature (2023 - 2024) Posted on 02/13/2024 03:51pm

A bill for an act
relating to capital investment; appropriating money for replacement of public
infrastructure in the city of Cottonwood; authorizing the sale and issuance of state
bonds.

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

Section 1. new text begin COTTONWOOD; PUBLIC INFRASTRUCTURE.
new text end

new text begin Subdivision 1. new text end

new text begin Appropriation. new text end

new text begin $8,000,000 is appropriated from the bond proceeds fund
to the Public Facilities Authority for a grant to the city of Cottonwood to design, construct,
and equip Phase 1 replacement of aging public infrastructure. This appropriation includes
money for improvements, upgrades, and replacement of portions of the city's sanitary sewer
system and drinking water distribution system; street reconstruction and replacement of
curb, gutter, and sidewalks; and improvements necessary for connection to the Lincoln
Pipestone Rural Water system for better municipal water quality.
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 $8,000,000 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.
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