SF 912

as introduced - 87th Legislature (2011 - 2012) Posted on 02/23/2012 09:28am

A bill for an act
relating to capital investment; appropriating money for water and wastewater
system improvements in the city of Hoyt Lakes; authorizing the sale and issuance
of state bonds.

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

Section 1. new text begin HOYT LAKES WATER AND WASTEWATER SYSTEM
IMPROVEMENTS.
new text end

new text begin Subdivision 1. new text end

new text begin Appropriation. new text end

new text begin $300,000 is appropriated from the bond proceeds
fund to the commissioner of employment and economic development for a grant to the
city of Hoyt Lakes to make capital improvements to the city's water treatment plant and
wastewater treatment plant. This appropriation is not available until at least an equal
amount is committed to the projects from nonstate sources.
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 $300,000 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