SF 2682

as introduced - 89th Legislature (2015 - 2016) Posted on 03/15/2016 10:08am

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

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

Section 1. new text begin REINVEST IN MINNESOTA (RIM) RESERVE.
new text end

new text begin Subdivision 1. new text end

new text begin Appropriation. new text end

new text begin $75,000,000 is appropriated from the bond proceeds
fund to the Board of Water and Soil Resources for the Reinvest in Minnesota reserve
program under Minnesota Statutes, section 103F.515, to acquire conservation easements
from landowners to preserve, restore, create, and enhance wetlands; restore and enhance
rivers and streams, riparian lands, and associated uplands in order to protect soil and
water quality; support fish and wildlife habitat; reduce flood damage; and provide other
public benefits.
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 management and budget shall sell and
issue bonds of the state in an amount up to $75,000,000 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