SF 2675

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 Roseau east
diversion flood control project.

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

Section 1. new text begin CITY OF ROSEAU EAST DIVERSION FLOOD CONTROL
PROJECT.
new text end

new text begin Subdivision 1. new text end

new text begin Appropriation. new text end

new text begin $10,900,000 is appropriated from the bond proceeds
fund to the commissioner of natural resources for flood hazard mitigation under Minnesota
Statutes, section 103F.161. This appropriation is for a grant to the city of Roseau for
phase II of the Roseau east diversion flood control project, including acquisition of land,
predesign, design, construction, furnishing, and equipping the diversion project on the
Roseau River in Roseau County, the city of Roseau, and the adjacent townships of Jadis
and Spruce. To the extent that the cost of the project exceeds two percent of the median
household income in the city multiplied by the number of households in the city, the
appropriation is also for the local share.
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 subdivision 1 from
the bond proceeds fund, the commissioner of finance shall sell and issue bonds of the
state in an amount up to $10,900,000 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