SF 730

as introduced - 85th Legislature (2007 - 2008) Posted on 12/15/2009 12:00am

A bill for an act
relating to capital improvements; appropriating money for a grant to the city of
Richfield to construct a new arterial street; authorizing the issuance of state
bonds.

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

Section 1. new text begin APPROPRIATION; RICHFIELD, CREATION OF ARTERIAL
STREET.
new text end

new text begin $4,632,000 is appropriated from the bond proceeds fund to the commissioner of
employment and economic development for a grant to the city of Richfield to acquire land
for, design, and construct a new north-south arterial street at 17th Avenue in the city.
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
$4,632,000 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