SF 2321

as introduced - 79th Legislature (1995 - 1996) Posted on 12/15/2009 12:00am

  1.1                          A bill for an act 
  1.2             relating to capital improvements; authorizing the 
  1.3             issuance of state bonds; appropriating money; 
  1.4             requiring matching contributions. 
  1.5   BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA: 
  1.6      Section 1.  [MULTIJURISDICTIONAL REINVESTMENT PROGRAMS.] 
  1.7      Subdivision 1.  [APPROPRIATION.] (a) $18,100,000 is 
  1.8   appropriated from the bond proceeds fund to the commissioner of 
  1.9   trade and economic development for payment by the commissioner 
  1.10  of trade and economic development to the metropolitan council.  
  1.11  The commissioner shall transfer the amount to the metropolitan 
  1.12  council upon receipt of a certified copy of a council resolution 
  1.13  requesting payment.  The appropriation must be used to pay the 
  1.14  cost of acquisition and betterment by the metropolitan council 
  1.15  and Hennepin county and local governmental units in accordance 
  1.16  with the multijurisdictional reinvestment program plan 
  1.17  established as provided in Minnesota Statutes, section 383B.79. 
  1.18     (b) The appropriation in paragraph (a) is for the following 
  1.19  purposes: 
  1.20     (1) land acquisition and development of the Humboldt Avenue 
  1.21  project, $10,000,000; 
  1.22     (2) development of the 29th Street Greenway, $5,000,000; 
  1.23  and 
  1.24     (3) development of a water pond to facilitate the 
  1.25  redevelopment of Brookdale, $3,100,000. 
  2.1      Subd. 2.  [BONDS.] To provide the money appropriated by 
  2.2   this section from the bond proceeds fund, the commissioner of 
  2.3   finance, on request of the governor, shall sell and issue bonds 
  2.4   of the state in an amount up to $18,100,000 in the manner, on 
  2.5   the terms, and with the effect prescribed by Minnesota Statutes, 
  2.6   sections 16A.631 to 16A.675, and by the Minnesota Constitution, 
  2.7   article XI, sections 4 to 7. 
  2.8      Subd. 3.  [LOCAL GOVERNMENT MATCH.] Government 
  2.9   jurisdictions participating in the reinvestment program planning 
  2.10  and projects must match any state contribution on at least a 
  2.11  dollar-for-dollar basis in the aggregate.  Government 
  2.12  jurisdictions, however constituted, may use any funds under 
  2.13  their control for the match requirement.