HF 5429

as introduced - 93rd Legislature (2023 - 2024) Posted on 04/29/2024 11:10am

A bill for an act
relating to capital investment; appropriating money for capital improvements at
and near the historic campus in the city of Preston; authorizing the sale and issuance
of state bonds.

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

Section 1. new text begin PRESTON; HISTORIC CAMPUS IMPROVEMENTS.
new text end

new text begin Subdivision 1. new text end

new text begin Appropriation. new text end

new text begin (a) $2,675,000 is appropriated from the bond proceeds
fund to the Minnesota Historical Society for one or more grants to the city of Preston for
the purposes in this section.
new text end

new text begin (b) $1,325,000 of the appropriation in paragraph (a) is to design, engineer, renovate,
and construct capital improvements to the historic campus and railyard in the city of Preston,
including construction of a depot museum and improvements to repair and enhance a historic
grain elevator. This appropriation is for Phase 1 of the project.
new text end

new text begin (c) $1,350,000 of the appropriation in paragraph (a) is to design and construct additional
access points to the South Branch of the Root River and for stream stabilization
improvements. This appropriation is for Phase 2 of the project.
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 $2,675,000 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