SF 2371

as introduced - 84th Legislature (2005 - 2006) Posted on 12/15/2009 12:00am

A bill for an act
relating to capital investment; authorizing spending to acquire and better
public land and buildings and other public improvements of a capital nature;
appropriating money for city of Richfield athletic fields; authorizing the issuance
of general obligation bonds.

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

Section 1. new text begin APPROPRIATION; RICHFIELD ATHLETIC FIELDS.
new text end

new text begin $550,000 is appropriated from the bond proceeds fund to the commissioner of
employment and economic development for a grant to the city of Richfield to predesign,
design, construct, and equip the replacement of four athletic fields lost to airport expansion.
This appropriation is not available until the commissioner of finance determines that at
least an equal amount is available from nonstate sources.
new text end

Sec. 2. new text begin BOND SALE.
new text end

new text begin To provide the money appropriated in section 1 from the bond proceeds fund, the
commissioner of finance shall sell and issue bonds of the state in an amount up to $550,000
in the manner, on 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

Sec. 3. new text begin EFFECTIVE DATE.
new text end

new text begin Sections 1 and 2 are effective the day following final enactment.
new text end