SF 708

as introduced - 88th Legislature (2013 - 2014) Posted on 02/26/2013 08:32am

A bill for an act
relating to capital investment; appropriating money for the Lanesboro Dam;
authorizing the sale and issuance of state bonds.

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

Section 1. new text begin LANESBORO DAM.
new text end

new text begin Subdivision 1. new text end

new text begin Appropriation. new text end

new text begin $1,100,000 is appropriated from the bond proceeds
fund to the commissioner of natural resources for a grant under Minnesota Statutes,
section 103G.511, to the city of Lanesboro for replacement of the Lanesboro Dam in
Fillmore County. Notwithstanding Minnesota Statutes, section 103G.511, subdivision 3,
or any other law to the contrary, this appropriation does not require a local match.
new text end

new text begin Notwithstanding Minnesota Statutes, section 16A.641, subdivision 8, or any other
law to the contrary, no money may be appropriated for this project before June 1, 2014.
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 $1,100,000 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