SF 1031

as introduced - 91st Legislature (2019 - 2020) Posted on 02/11/2019 02:17pm

A bill for an act
relating to capital investment; appropriating money for public infrastructure for
an industrial park in the city of Blue Earth; authorizing the sale and issuance of
state bonds.

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

Section 1. new text begin CITY OF BLUE EARTH INDUSTRIAL PARK INFRASTRUCTURE.
new text end

new text begin Subdivision 1. new text end

new text begin Appropriation. new text end

new text begin $1,422,550 is appropriated from the bond proceeds fund
to the commissioner of employment and economic development for the greater Minnesota
business development public infrastructure grant program under Minnesota Statutes, section
116J.431, for a grant to the city of Blue Earth to acquire land and predesign, design, construct,
and equip public infrastructure for the North Industrial Park in the city of Blue Earth. The
project includes upgrading a segment of County State-Aid Highway 103 between Trunk
Highway 169 and the entrance to the industrial park. This appropriation is not available
until the commissioner of management and budget determines that at least an equal amount
is committed to complete the project 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 $1,422,550 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