SF 2646

as introduced - 85th Legislature (2007 - 2008) Posted on 12/15/2009 12:00am

A bill for an act
relating to capital improvements; appropriating money for Stillwater flood
control; authorizing the sale and issuance of state bonds.

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

Section 1. new text begin APPROPRIATION.
new text end

new text begin $625,000 is appropriated from the bond proceeds fund to the commissioner of
natural resources for a grant under Minnesota Statutes, section 103F.161, to the city of
Stillwater to predesign, design, and begin construction of Phase III of the Stillwater flood
control project, including flood control structures and pumping stations.
new text end

new text begin The appropriation is not available until the commissioner determines that $2,000,000
has been committed to the project 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
$625,000 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

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