SF 2137

as introduced - 86th Legislature (2009 - 2010) Posted on 02/09/2010 11:35pm

A bill for an act
relating to capital improvements; appropriating money for flood hazard
mitigation in Area II of the Minnesota River Basin; authorizing the sale and
issuance of state bonds.

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

Section 1. 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 the Minnesota River Board for the state's share of
a flood hazard mitigation grant for publicly owned capital improvements to prevent or
alleviate flood damage under Minnesota Statutes, section 103F.161, in Area II of the
Minnesota River Basin.
new text end

Sec. 2. new text begin BOND SALE.
new text end

new text begin To provide the money appropriated in section 1 from the bond proceeds fund,
the commissioner of finance 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

Sec. 3. new text begin EFFECTIVE DATE.
new text end

new text begin Sections 1 and 2 are effective the day following final enactment.
new text end