SF 347

as introduced - 84th Legislature (2005 - 2006) Posted on 12/15/2009 12:00am

A bill for an act
relating to capital investment; appropriating money
for reforestation; authorizing the issuance of general
obligation bonds.

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

Section 1. new text begin APPROPRIATION; NATURAL RESOURCES;
REFORESTATION.
new text end

new text begin $1,500,000 is appropriated from the bond proceeds fund to
the commissioner of natural resources for improvements
authorized under the Minnesota Constitution, article XI, section
5, clause (f). This appropriation is to increase reforestation
activities to meet the reforestation requirements of Minnesota
Statutes, section 89.002, subdivision 2, including planting,
seeding, site preparation, purchasing tree seed and seedlings,
improving forest stands, and protecting plantations.
new text end

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

new text begin To provide the money appropriated by section 1 from the
bond proceeds fund, the commissioner of finance shall sell and
issue bonds of the state in an amount up to $1,500,000 in the
manner, on 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 Sections 1 and 2 are effective the day following final
enactment.
new text end