SF 517

as introduced - 88th Legislature (2013 - 2014) Posted on 02/19/2013 08:31am

A bill for an act
relating to capital investment; appropriating money for acquisition of school
trust land by the Department of Natural Resources; authorizing the sale and
issuance of state bonds.

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

Section 1. new text begin ACQUISITION OF SCHOOL TRUST LAND.
new text end

new text begin Subdivision 1. new text end

new text begin Appropriation. new text end

new text begin (a) $....... is appropriated from the bond proceeds
fund to the commissioner of natural resources to make condemnation payments for
acquiring school trust land by condemnation. All payments made pursuant to this
subdivision shall be deposited into the permanent school fund.
new text end

new text begin (b) The commissioner of natural resources shall exercise the power of eminent
domain pursuant to Minnesota Statutes, chapter 117, to acquire fee title to school trust lands.
new text end

new text begin (c) Notwithstanding Minnesota Statutes, section 117.036, an appraisal of the land
is not required, and the value determination of the school trust land shall be done in a
manner developed by the commissioner of natural resources, in consultation with the
Legislative Permanent School Fund Commission.
new text end

new text begin (d) For purposes of this section, "school trust land" has the meaning given under
Minnesota Statutes, section 92.025. The "permanent school fund" has the meaning given
in Minnesota Statutes, section 11A.16.
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 $....... 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