SF 1864

as introduced - 93rd Legislature (2023 - 2024) Posted on 06/12/2023 01:53pm

A bill for an act
relating to capital investment; appropriating money for the Fergus Falls Riverfront
Corridor project; authorizing the sale and issuance of state bonds.

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

Section 1. new text begin FERGUS FALLS; RIVERFRONT CORRIDOR PROJECT PHASE 2,
PART 2.
new text end

new text begin Subdivision 1. new text end

new text begin Appropriation. new text end

new text begin $5,200,000 is appropriated from the bond proceeds fund
to the commissioner of employment and economic development for a grant to the city of
Fergus Falls for Phase 2, Part 2 improvements as part of the city's Riverfront Corridor
Project. This appropriation includes money for acquisition of approximately 11.68 acres of
land, and for the design, engineering, and construction of the river buffer trail system,
including accessible public parking and other public amenities. This appropriation also
includes money to design, engineer, and construct two rail crossings, one at Broadway
Avenue and one at St. Andrews Street, to serve as access points to the river buffer parcel
and provide safe motor vehicle and pedestrian crossing. Amounts spent by the city for
completion of Phase 2, Part 1, of the Riverfront Corridor Project, count as the local match
under Minnesota Statutes, section 16A.86, and no further nonstate match is required for
this appropriation.
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 $5,200,000 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