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SF 1184

as introduced - 89th Legislature (2015 - 2016) Posted on 02/27/2015 09:35am

KEY: stricken = removed, old language.
underscored = added, new language.

Current Version - as introduced

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A bill for an act
relating to capital investment; appropriating money for the Duluth Steam system;
authorizing the sale and issuance of state bonds.

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

Section 1. new text begin DULUTH STEAM SYSTEM.
new text end

new text begin Subdivision 1. new text end

new text begin Appropriation. new text end

new text begin $25,000,000 is appropriated from the bond proceeds
fund to the commissioner of Employment and Economic Development for a grant to
the city of Duluth to complete the design and to renovate, construct, furnish, and equip
an upgrade to the municipal steam facility and systems, including conversion of the
distribution system from steam to hot water and conversion of the fuel source from coal to
biomass. This appropriation is not available until the commissioner determines that an
equal amount is committed 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 $25,000,000 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