HF 3770

as introduced - 90th Legislature (2017 - 2018) Posted on 03/19/2018 04:50pm

A bill for an act
relating to capital investment; appropriating money for local government roads
wetland replacement program; authorizing the sale and issuance of state bonds.

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

Section 1. new text begin LOCAL GOVERNMENT ROADS WETLAND REPLACEMENT
PROGRAM.
new text end

new text begin Subdivision 1. new text end

new text begin Appropriation. new text end

new text begin $16,380,000 is appropriated from the bond proceeds
fund to the Board of Water and Soil Resources to acquire land or permanent easements and
to restore, create, enhance, and preserve wetlands to replace those wetlands drained or filled
as a result of the repair, reconstruction, replacement, or rehabilitation of existing public
roads as required by Minnesota Statutes, section 103G.222, subdivision 1, paragraphs (l)
and (m). The purchase price paid for acquisition of land or perpetual easement must be a
fair market value as determined by the board. The board may enter into agreements with
the federal government, other state agencies, political subdivisions, nonprofit organizations,
fee title owners, or other qualified private entities to acquire wetland replacement credits
in accordance with Minnesota Rules, chapter 8420.
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 $16,380,000 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