SF 4023

as introduced - 90th Legislature (2017 - 2018) Posted on 08/24/2018 08:58am

A bill for an act
relating to capital investment; appropriating money for removal of sedimentation
in Lake Zumbro; authorizing the sale and issuance of state bonds.

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

Section 1. new text begin SEDIMENTATION REMOVAL FROM LAKE ZUMBRO; OLMSTED
COUNTY.
new text end

new text begin Subdivision 1. new text end

new text begin Appropriation. new text end

new text begin $640,000 is appropriated from the bond proceeds fund
to the commissioner of natural resources for a grant to Olmsted County for the removal of
sedimentation in Lake Zumbro deposited after the removal of the Lake Shady Dam on the
middle fork of the Zumbro River, including final engineering, dredging, and dredged soil
disposal. This appropriation is available when the commissioner of management and budget
determines that sufficient resources have been committed to complete the project, as required
under Minnesota Statutes, section 16A.502. This appropriation is in addition to appropriations
in Laws 2012, chapter 293, and Laws 2014, chapter 294.
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 $640,000 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