SF 98

as introduced - 90th Legislature (2017 - 2018) Posted on 01/13/2017 08:32am

A bill for an act
relating to capital investment; appropriating money for city of Litchfield's phase
2 power generation improvements; authorizing the sale and issuance of state bonds.

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

Section 1. new text begin LITCHFIELD POWER GENERATION IMPROVEMENTS.
new text end

new text begin Subdivision 1. new text end

new text begin Appropriation. new text end

new text begin $5,000,000 is appropriated from the bond proceeds fund
to the commissioner of employment and economic development for a grant to the city of
Litchfield to design and construct electrical generation improvements in the city of Litchfield
to expand the current standby capacity, including replacement of two old generators. This
appropriation is not available until the commissioner of management and budget determines
that at least an equal amount is committed to the project from nonstate sources.
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 $5,000,000 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