SF 3538

as introduced - 91st Legislature (2019 - 2020) Posted on 02/25/2020 08:48am

A bill for an act
relating to capital investment; appropriating money for the Falls International
Airport; authorizing the sale and issuance of state bonds.

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

Section 1. new text begin FALLS INTERNATIONAL AIRPORT.
new text end

new text begin Subdivision 1. new text end

new text begin Appropriation. new text end

new text begin (a) $2,000,000 is appropriated from the bond proceeds
fund to the commissioner of transportation for a grant to the International Falls-Koochiching
County Airport Commission to provide for the nonfederal share of Falls International Airport
capital improvements.
new text end

new text begin (b) The grant under this appropriation does not require a nonstate contribution or match.
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 management and budget shall sell and issue bonds of
the state in an amount up to $2,000,000 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