SF 2623

as introduced - 89th Legislature (2015 - 2016) Posted on 03/15/2016 09:46am

A bill for an act
relating to capital investment; appropriating money for the Byllesby Dam;
authorizing the sale and issuance of state bonds.

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

Section 1. new text begin BYLLESBY DAM.
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 natural resources for a grant to Dakota County under
Minnesota Statutes, sections 103G.511 and 103G.515, to design and construct capital
improvements to the hydro-electric generating facility, including replacement of obsolete
turbines, at the Byllesby Dam, located on the Cannon River.
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