HF 3916

as introduced - 93rd Legislature (2023 - 2024) Posted on 02/19/2024 02:12pm

A bill for an act
relating to capital investment; appropriating money for the rural airport 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 MINNESOTA RURAL AIRPORT PROGRAM.
new text end

new text begin Subdivision 1. new text end

new text begin Appropriation. new text end

new text begin $10,000,000 is appropriated from the bond proceeds
fund to the commissioner of transportation for the rural airport program for grants to local
governments that own airports which do not qualify for federal funding and are not part of
the Federal Aviation Administration National Plan of Integrated Airport Systems.
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 $10,000,000 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