SF 3858

as introduced - 90th Legislature (2017 - 2018) Posted on 03/29/2018 03:49pm

A bill for an act
relating to capital investment; appropriating money for improvements to the
wastewater treatment facility and infrastructure in the city of Glencoe; authorizing
the sale and issuance of state bonds.

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

Section 1. new text begin GLENCOE; WASTEWATER TREATMENT FACILITY.
new text end

new text begin Subdivision 1. new text end

new text begin Appropriation. new text end

new text begin $11,500,000 is appropriated from the bond proceeds
fund to the Public Facilities Authority for a grant to the city of Glencoe to design, engineer,
construct, and equip renovation of the municipal wastewater treatment facility and for other
improvements to publicly owned wastewater infrastructure. If this amount is not sufficient
to cover 50 percent of the costs of the project, the city is eligible for additional grant funds
in an amount necessary to cover the difference between the amount appropriated in this
subdivision and the amount necessary to cover 50 percent of the costs. 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 $11,500,000 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