SF 2274

as introduced - 93rd Legislature (2023 - 2024) Posted on 03/02/2023 08:56am

A bill for an act
relating to capital investment; appropriating money for reconstruction of public
infrastructure in the city of Excelsior; authorizing the sale and issuance of state
bonds.

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

Section 1. new text begin EXCELSIOR; STREET RECONSTRUCTION AND PUBLIC
INFRASTRUCTURE.
new text end

new text begin Subdivision 1. new text end

new text begin Appropriation. new text end

new text begin $21,619,000 is appropriated from the bond proceeds
fund to the public facilities authority for a grant to the city of Excelsior for street
reconstruction and replacement of publicly owned infrastructure. This appropriation includes
money for predesign, design, engineering, acquisition of right-of-way, construction, and
other improvements or upgrades related to water main, storm sewer, sanitary sewer, curb,
gutter, and other publicly owned infrastructure in accordance with the city's Pavement
Management Plan. Amounts expended for this project by the city before the effective date
of this section shall count toward the nonstate match.
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 $21,619,000 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