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SF 3373

as introduced - 90th Legislature (2017 - 2018) Posted on 03/15/2018 01:04pm

KEY: stricken = removed, old language.
underscored = added, new language.
Line numbers 1.1 1.2 1.3 1.4
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A bill for an act
relating to capital investment; appropriating money for lakeshore development in
the city of Wayzata; authorizing the sale and issuance of state bonds.

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

Section 1. new text begin WAYZATA; LAKE EFFECT PARK PROJECT.
new text end

new text begin Subdivision 1. new text end

new text begin Appropriation. new text end

new text begin $750,000 is appropriated from the bond proceeds fund
to the commissioner of employment and economic development for a grant to the city of
Wayzata for Phase 1 construction of a public park, shoreline restoration, and other
improvements of Lake Minnetonka shoreline in the city of Wayzata known as the Lake
Effect Park Project. This appropriation is available when the commissioner of management
and budget determines that sufficient resources have been committed to complete the project,
as required by Minnesota Statutes, section 16A.502.
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 $750,000 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