SF 2233

as introduced - 86th Legislature (2009 - 2010) Posted on 02/09/2010 11:36pm

A bill for an act
relating to capital investment; appropriating money to implement flood damage
reduction projects of a capital nature with certain conditions; authorizing the sale
and issuance of state bonds.

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

Section 1. new text begin FLOOD DAMAGE REDUCTION PROJECTS; FLOOD HAZARD
MITIGATION GRANTS.
new text end

new text begin Subdivision 1. new text end

new text begin Appropriation. new text end

new text begin (a) $41,930,000 is appropriated from the bond
proceeds fund to the commissioner of natural resources for the state share of flood hazard
mitigation grants for publicly owned capital improvements to prevent or alleviate flood
damage under Minnesota Statutes, section 103F.161, and enhance natural resources
consistent with the FDR mediation agreement.
new text end

new text begin (b) This appropriation includes money for the following projects: North Ottawa,
$3,000,000; Redpath, $4,000,000; Hay Creek-Norlund, $3,900,000; Upper Becker,
$5,300,000; cities of Perley, Hendrum, Shelly, and Felton, $6,630,000; cities of Nielsville
and Climax, $2,572,000; Grand Marais, $3,750,000; Thief River Falls, $1,050,000;
Springbrook, $258,000; Brandt-Angus, $2,250,000; Manston Slough, $3,000,000; and
Upper So Br, $6,230,000.
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 $41,930,000 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