SF 2584

as introduced - 90th Legislature (2017 - 2018) Posted on 02/23/2018 09:11am

A bill for an act
relating to capital investment; appropriating money for Timberline Road
improvements in Sturgeon Lake; authorizing the sale and issuance of state bonds.

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

Section 1. new text begin TIMBERLINE ROAD IMPROVEMENTS; STURGEON LAKE.
new text end

new text begin Subdivision 1. new text end

new text begin Appropriation. new text end

new text begin $300,000 is appropriated from the bond proceeds fund
to the commissioner of employment and economic development for a grant to the city of
Sturgeon Lake to predesign, design, construct, furnish, and equip the reconstruction of
Timberline Road, from Farm to Market Road to Berry Trail Road, in the city of Sturgeon
Lake. 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 $300,000 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