SF 2835

as introduced - 90th Legislature (2017 - 2018) Posted on 03/02/2018 09:22am

A bill for an act
relating to capital investment; appropriating money for a seawall and surface
improvements for the city of Duluth; authorizing the sale and issuance of state
bonds.

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

Section 1. new text begin DULUTH; SEAWALL AND SURFACE IMPROVEMENTS.
new text end

new text begin Subdivision 1. new text end

new text begin Appropriation. new text end

new text begin $7,000,000 is appropriated from the bond proceeds fund
to the commissioner of employment and economic development for a grant to the city of
Duluth to predesign, design, construct, furnish, and equip seawall infrastructure with related
surface improvements, including a boardwalk and bike trails, public gathering spaces, and
loading areas, along the shore of Lake Superior in the city of Duluth. This appropriation
may also be used for demolition and removal of existing seawall structures.
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 section from the bond
proceeds fund, the commissioner of management and budget shall sell and issue bonds of
the state in an amount up to $7,000,000 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