SF 2157

as introduced - 92nd Legislature (2021 - 2022) Posted on 03/19/2021 08:08am

A bill for an act
relating to capital investment; appropriating money for site preparation for
redevelopment of the Allen S. King power plant site in the city of Oak Park Heights;
authorizing the sale and issuance of state bonds.

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

Section 1. new text begin OAK PARK HEIGHTS; ALLEN S. KING POWER PLANT SITE.
new text end

new text begin Subdivision 1. new text end

new text begin Appropriation. new text end

new text begin $10,000,000 is appropriated from the bond proceeds
fund to the commissioner of employment and economic development for a grant to the city
of Oak Park Heights to predesign, design, construct, furnish, and equip public infrastructure
for development of the Allen S. King power plant site in the city of Oak Park Heights. Public
infrastructure includes clean water systems, sanitary sewer systems, storm water systems,
roads, trails, and sidewalks. This appropriation is available when the commissioner of
management and budget determines that sufficient resources have been committed to
complete the project, as required by Minnesota Statutes, section 16A.502.
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 $10,000,000 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