SF 2779

as introduced - 82nd Legislature (2001 - 2002) Posted on 12/15/2009 12:00am

  1.1                          A bill for an act 
  1.2             relating to economic development; providing funding 
  1.3             for economic development in small cities in Minnesota; 
  1.4             appropriating money. 
  1.5   BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA: 
  1.6      Section 1.  [APPROPRIATION; SMALL CITIES ECONOMIC 
  1.7   DEVELOPMENT.] 
  1.8      $....... is appropriated from the bond proceeds fund to the 
  1.9   commissioner of trade and economic development for grants to 
  1.10  Minnesota cities with populations of less than 5,000.  Grants 
  1.11  may be used for capital expenditures for publicly-owned 
  1.12  infrastructure related to economic development and the creation 
  1.13  of good quality jobs in these cities.  The commissioner shall 
  1.14  award grants according to a competitive grant process, and shall 
  1.15  create criteria for the award of grants. 
  1.16     Sec. 2.  [BOND SALE.] 
  1.17     To provide the money in this act appropriated from the bond 
  1.18  proceeds fund, the commissioner of finance shall sell and issue 
  1.19  bonds of the state in an amount up to $....... in the manner, 
  1.20  upon the terms, and with the effect prescribed by Minnesota 
  1.21  Statutes, sections 16A.631 to 16A.675, and by the Minnesota 
  1.22  Constitution, article XI, sections 4 to 7. 
  1.23     Sec. 3.  [EFFECTIVE DATE.] 
  1.24     This act is effective the day following final enactment.