SF 2685

as introduced - 84th Legislature (2005 - 2006) Posted on 12/15/2009 12:00am

A bill for an act
relating to capital improvements; authorizing the issuance of state bonds;
appropriating money for public infrastructure to support a steel plant in Itasca
County.

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

Section 1. new text begin ITASCA COUNTY STEEL PLANT INFRASTRUCTURE.
new text end

new text begin Subdivision 1. new text end

new text begin Steel plant. new text end

new text begin $58,900,000 is appropriated from the bond proceeds
fund to the commissioner of employment and economic development for a grant to Itasca
County to acquire right-of-way and mitigate loss of wetlands and runoff of storm water,
and to design, construct, and equip roads, rail lines, natural gas pipelines, water supply
systems, and wastewater collection and treatment systems for a steel plant in Itasca County.
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 act from the bond
proceeds fund, the commissioner of finance shall sell and issue bonds of the state in an
amount up to $58,900,000 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

Sec. 2. new text begin EFFECTIVE DATE.
new text end

new text begin This act is effective the day following final enactment.
new text end