SF 1868

as introduced - 88th Legislature (2013 - 2014) Posted on 02/26/2014 09:33am

A bill for an act
relating to capital investment; appropriating money for restoration of Lake
Zumbro; authorizing the sale and issuance of state bonds.

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

Section 1. new text begin LAKE ZUMBRO.
new text end

new text begin Subdivision 1. new text end

new text begin Appropriation. new text end

new text begin $1,000,000 is appropriated from the bond proceeds
fund to the commissioner of natural resources for a grant to Olmsted County for the
removal of sedimentation in Lake Zumbro, including final engineering, dredging,
and dredged soil disposal from the sites identified in the Preliminary Engineering
Report for Dredging Lake Zumbro. This project is designed to improve the recreational
economy, water quality, and habitat and increase water storage capacity within the lake to
achieve renewable energy goals by optimizing long-term hydroelectric operations. This
appropriation is available when the commissioner determines an equal match of nonstate
funds have been committed to complete the project.
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 $1,000,000 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