SF 2341

as introduced - 92nd Legislature (2021 - 2022) Posted on 04/07/2021 08:12am

A bill for an act
relating to capital investment; appropriating money for Phase 2 of the Lake Effect
Project in Wayzata; authorizing the sale and issuance of state bonds.

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

Section 1. new text begin WAYZATA; LAKE EFFECT PROJECT, PHASE 2.
new text end

new text begin Subdivision 1. new text end

new text begin Appropriation. new text end

new text begin $6,000,000 is appropriated from the bond proceeds fund
to the commissioner of employment and economic development for a grant to the city of
Wayzata to design, construct, furnish, and equip a boardwalk, community docks, the
restoration of the historic Section Foreman House, and the preservation of the Wayzata
Depot and to restore the lake edge on Lake Minnetonka in downtown Wayzata. This
appropriation is in addition to the appropriation for a portion of this project in Laws 2020,
Fifth Special Session chapter 3, article 1, section 21, subdivision 45. 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 $6,000,000 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