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HF 4376

as introduced - 90th Legislature (2017 - 2018) Posted on 04/12/2018 02:35pm

KEY: stricken = removed, old language.
underscored = added, new language.

Current Version - as introduced

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A bill for an act
relating to capital investment; appropriating money for extending the fiber network
to connect Willow River to Pine City and Cromwell to Aitkin; authorizing the sale
and issuance of state bonds.

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

Section 1. new text begin FIBER NETWORK EXTENSION FROM WILLOW RIVER TO PINE
CITY AND FROM CROMWELL TO AITKIN.
new text end

new text begin Subdivision 1. new text end

new text begin Definition. new text end

new text begin For purposes of this section, "fiber optic infrastructure" means
the land, buildings, fiber optic connection cable, and endpoint hardware, including routers
and switches. It does not include computers, telephones, or cameras.
new text end

new text begin Subd. 2. new text end

new text begin Public purpose. new text end

new text begin The fiber optic infrastructure project for which bond proceeds
are appropriated in this section is needed to deliver high-speed Internet service to areas of
the state that do not currently have high-speed Internet access due to the absence of fiber
optic infrastructure.
new text end

new text begin Subd. 3. new text end

new text begin General eligibility; state general obligation bond funds. new text end

new text begin Article XI, section
5, clause (a), of the Minnesota Constitution requires that state general obligation bonds be
issued to finance only the acquisition or betterment of public land, buildings, and other
public improvements of a capital nature. The legislature has determined that many fiber
optic infrastructure projects will constitute betterments and capital improvements within
the meaning of the Minnesota Constitution and capital expenditures under generally accepted
accounting principles, and will be financed more efficiently and economically under this
section than by direct appropriations for specific projects.
new text end

new text begin Subd. 4. new text end

new text begin Appropriation. new text end

new text begin $2,300,000 is appropriated from the bond proceeds fund to
the commissioner of employment and economic development for a grant to the Mountain
Iron Economic Development Authority to prepare land on which the fiber optic infrastructure
will be located, including demolition of structures and remediation of any hazardous
conditions on the land, and for predesign, design, acquisition, and installation of fiber optic
infrastructure on land that is publicly owned or for which a public entity has a permanent
easement, with a useful life of at least ten years, in and extending between the cities of
Willow River and Pine City and in and between the cities of Cromwell and Aitkin. This
appropriation is available when the commissioner of management and budget determines
that sufficient resources have been committed to complete the project, as required by
Minnesota Statutes, section 16A.502.
new text end

new text begin Subd. 5. 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 $2,300,000 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