SF 1128

as introduced - 90th Legislature (2017 - 2018) Posted on 02/21/2017 08:37am

A bill for an act
relating to capital investment; appropriating money for the re-creation of Hall's
Island in Minneapolis; authorizing the sale and issuance of state bonds.

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

Section 1. new text begin HALL'S ISLAND; APPROPRIATION.
new text end

new text begin Subdivision 1. new text end

new text begin Appropriation. new text end

new text begin $12,000,000 is appropriated from the bond proceeds
fund to the Minneapolis Park and Recreation Board to predesign, design, construct, and
restore a river island and park facility for the purpose of providing public access to new
riverfront park facilities and restoring ecological habitat areas along the Mississippi River.
This appropriation is not available until the commissioner of management and budget
determines that at least $5,820,000 has been committed to the project from nonstate sources.
Expenditures made on or after July 15, 2010, for this project shall count toward the match
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 $12,000,000 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