SF 568

as introduced - 87th Legislature (2011 - 2012) Posted on 06/06/2012 11:47am

A bill for an act
relating to capital investment; appropriating money for the greater Minnesota
business development infrastructure grant program; authorizing the sale and
issuance of state bonds.

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

Section 1. new text begin GREATER MINNESOTA BUSINESS DEVELOPMENT
INFRASTRUCTURE GRANT PROGRAM.
new text end

new text begin Subdivision 1. new text end

new text begin Appropriation. new text end

new text begin $10,000,000 is appropriated from the bond proceeds
fund to the commissioner of employment and economic development for the greater
Minnesota business development infrastructure grant program under Minnesota Statutes,
section 116J.431.
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 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 $10,000,000 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