as introduced - 82nd Legislature (2001 - 2002) Posted on 12/15/2009 12:00am
1.1 A bill for an act 1.2 relating to capital improvements; authorizing spending 1.3 to acquire and to better public land and other public 1.4 improvements of a capital nature; providing for a 1.5 grant to the city of Floodwood; authorizing issuance 1.6 of bonds; appropriating money. 1.7 BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA: 1.8 Section 1. [APPROPRIATION.] 1.9 $975,000 is appropriated from the bond proceeds fund to the 1.10 commissioner of trade and economic development for a grant to 1.11 the city of Floodwood for development of a business and 1.12 industrial park; including design, acquisition of land, and 1.13 construction of infrastructure; including sewer, water, and 1.14 roads; subject to the requirements of Minnesota Statutes, 1.15 section 16A.695. 1.16 Sec. 2. [BOND SALE.] 1.17 To provide the money appropriated in section 1 from the 1.18 bond proceeds fund, the commissioner of finance shall sell and 1.19 issue bonds of the state in an amount up to $975,000 in the 1.20 manner, on the terms, and with the effect prescribed by 1.21 Minnesota Statutes, sections 16A.631 to 16A.675, and by the 1.22 Minnesota Constitution, article XI, sections 4 to 7. 1.23 Sec. 3. [EFFECTIVE DATE.] 1.24 Sections 1 and 2 are effective the day following final 1.25 enactment.