as introduced - 84th Legislature (2005 - 2006) Posted on 12/15/2009 12:00am
A bill for an act
relating to capital improvements; authorizing the
issuance of state bonds; appropriating money to
Hennepin County for affordable and supportive housing
units.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA:
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$8,500,000 is appropriated from the bond proceeds fund to
the Housing Finance Agency for a grant to the Hennepin County
Housing and Redevelopment Authority to build 64 units of
affordable, stable, and supportive housing including some units
targeted at those experiencing long-term homelessness. The site
is to be owned by the grantee above a nonprofit social service
provider's site, and will be operated by the social service
provider subject to Minnesota Statutes, section 16A.695.
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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 $8,500,000 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.
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Sections 1 and 2 are effective the day following final
enactment.
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