SF 497

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

A bill for an act
relating to capital improvements; providing for a
grant to the city of St. Paul to acquire land for and
remediate contamination in the Phalen Corridor;
authorizing issuance of bonds; appropriating money.

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

Section 1. new text begin APPROPRIATION.
new text end

new text begin $4,000,000 is appropriated from the bond proceeds fund to
the commissioner of employment and economic development for a
grant to the city of St. Paul to acquire land for right-of-way
and to complete contamination remediation on Phalen Boulevard
between Interstate Highway I-35E and Johnson Parkway.
new text end

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

new text begin To provide the money appropriated in section 1 from the
bond proceeds fund, the commissioner of finance shall sell and
issue bonds of the state in an amount up to $4,000,000 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