SF 2443

as introduced - 85th Legislature (2007 - 2008) 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 improvements of a capital nature; authorizing the
issuance of state bonds; appropriating money for the city of Virginia Mining
Haul Road economic development project.

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

Section 1. new text begin VIRGINIA MINING HAUL ROAD ECONOMIC DEVELOPMENT
PROJECT.
new text end

new text begin Subdivision 1. new text end

new text begin Appropriation. new text end

new text begin $1,825,000 is appropriated from the bond proceeds
fund to the commissioner of employment and economic development for a grant to the
city of Virginia to predesign, design, construct, and install public infrastructure and other
public site improvements for the Mining Haul Road economic development project.
new text end

new text begin This appropriation is not available until the commissioner of finance determines that
at least an equal amount is committed to the project from other sources.
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 by subdivision 1 from
the bond proceeds fund, the commissioner of finance shall sell and issue bonds of the
state in an amount up to $1,825,000 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