SF 1360

as introduced - 87th Legislature (2011 - 2012) Posted on 06/13/2012 10:07am

A bill for an act
relating to capital investment; appropriating money for RIM Conservation
Reserve; authorizing the sale and issuance of state bonds.

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

Section 1. new text begin RIM CONSERVATION RESERVE.
new text end

new text begin Subdivision 1. new text end

new text begin Appropriation. new text end

new text begin $20,000,000 is appropriated from the bond proceeds
fund to the Board of Water and Soil Resources to acquire conservation easements from
landowners to restore and protect soil and water resources and related fish and wildlife
habitat, and provide flood retention or attenuation as provided in Minnesota Statutes,
section 103F.515. Of this appropriation, up to ten percent may be used to implement the
program. The board shall, to the extent possible, use this appropriation to leverage federal
conservation or disaster recovery funding and shall give priority consideration to projects
in the Root River and Sauk River watersheds that have federal funding commitments
included in the USDA Mississippi River Basin Initiative (MRBI) and in watersheds that
have known or potential flood damages.
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 $20,000,000 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