SF 1507

as introduced - 88th Legislature (2013 - 2014) Posted on 03/22/2013 09:34am

A bill for an act
relating to capital investment; appropriating money for the Water Works site in
the Central Riverfront Regional Park 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 MINNEAPOLIS PARK AND RECREATION BOARD; CENTRAL
RIVERFRONT PARK WATER WORKS SITE.
new text end

new text begin Subdivision 1. new text end

new text begin Appropriation. new text end

new text begin $1,500,000 is appropriated from the bond proceeds
fund to the Metropolitan Council for a grant to the Minneapolis Park and Recreation
Board for predesign, design, and construction of the original Minneapolis municipal
water works site and several historic mills located northeast of First Street South between
First Avenue South and Third Avenue South in Minneapolis. This appropriation must be
used to stabilize the site and underlying mill ruins for future use as a year-round cultural
destination with services for park visitors.
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 $1,500,000 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