HF 427

as introduced - 84th Legislature (2005 - 2006) Posted on 12/15/2009 12:00am

A bill for an act
relating to capital improvements; appropriating money
for the greater Minnesota business development public
infrastructure grant program and the greater Minnesota
redevelopment account; authorizing the sale of state
bonds.

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

Section 1. new text begin GREATER MINNESOTA CAPITAL GRANTS.
new text end

new text begin Subdivision 1. new text end

new text begin Greater minnesota business development
public infrastructure grants. new text end

new text begin $14,000,000 is appropriated from
the bond proceeds fund to the commissioner of employment and
economic development for grants under the greater Minnesota
business development public infrastructure grant program under
Minnesota Statutes, section 116J.431.
new text end

new text begin Subd. 2. new text end

new text begin Greater minnesota redevelopment
account. new text end

new text begin $10,000,000 is appropriated from the bond proceeds
fund to the commissioner of employment and economic development
for transfer to the greater Minnesota redevelopment account
created in Minnesota Statutes, section 116J.571.
new text end

new text begin Subd. 3. new text end

new text begin Bond sale. new text end

new text begin To provide the money appropriated in
this act from the bond proceeds fund, the commissioner of
finance shall sell and issue bonds of the state in an amount up
to $24,000,000 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

Sec. 2. new text begin EFFECTIVE DATE.
new text end

new text begin This act is effective the day following final enactment.
new text end