SF 291

as introduced - 87th Legislature (2011 - 2012) Posted on 02/23/2012 08:37am

A bill for an act
relating to capital improvements; appropriating money for capital improvements
in the city of Inver Grove Heights; authorizing the issuance of state bonds.

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

Section 1. new text begin APPROPRIATION.
new text end

new text begin $240,000 is appropriated from the bond proceeds fund to the commissioner of
employment and economic development for a grant to the city of Inver Grove Heights for
rehabilitation and capital improvements to city-owned historical buildings that may be
relocated within the regional Heritage Park and Trail District, and to meet life safety and
building code requirements. This appropriation is not available until the commissioner
determines that funds sufficient to complete the project are committed to the project from
nonstate sources, including in-kind contributions.
new text end

Sec. 2. new text begin BOND AUTHORIZATION.
new text end

new text begin To provide the money appropriated in this act from the bond proceeds fund, the
commissioner of management and budget shall sell and issue bonds of the state in an
amount up to $240,000 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. 3. new text begin EFFECTIVE DATE.
new text end

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