SF 2699

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 public infrastructure
grants; 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; PUBLIC INFRASTRUCTURE GRANTS.
new text end

new text begin Subdivision 1. new text end

new text begin Greater Minnesota business development public infrastructure
grant program. new text end

new text begin $20,000,000 is appropriated from the bond proceeds fund to the
commissioner of employment and economic development for grants under Minnesota
Statutes, section 116J.431.
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 $20,000,000 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