SF 1586

as introduced - 90th Legislature (2017 - 2018) Posted on 03/17/2017 08:41am

A bill for an act
relating to capital investment; appropriating money for trail connections and
Mississippi River access 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; 26TH AVENUE
NORTH.
new text end

new text begin Subdivision 1. new text end

new text begin Appropriation. new text end

new text begin $3,000,000 is appropriated from the bond proceeds fund
to the Metropolitan Council for a grant to the Minneapolis Park and Recreation Board to
design and construct trail connections at and south of 26th Avenue North to the Minneapolis
Grand Rounds through Ole Olson Park, and create a river overlook and access point at the
Mississippi River. The trail shall be designed to provide a connection to a future river
crossing Burlington Northern Railroad bridge at 25th Avenue North. This appropriation is
intended to augment work being completed by the city of Minneapolis to reconstruct and
create a multimodal corridor beginning at Theodore Wirth Regional Park and extending
east to the Mississippi River. This appropriation is available when the commissioner of
management and budget determines that at least $1,300,000 has been 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 $3,000,000 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