SF 4440

as introduced - 91st Legislature (2019 - 2020) Posted on 11/03/2020 02:41pm

A bill for an act
relating to capital investment; appropriating money for wastewater, clean water,
and storm water infrastructure in Vernon Center; authorizing the sale and issuance
of state bonds.

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

Section 1. new text begin WATER INFRASTRUCTURE IMPROVEMENTS; VERNON CENTER.
new text end

new text begin Subdivision 1. new text end

new text begin Appropriation. new text end

new text begin $6,000,000 is appropriated from the bond proceeds fund
to the Public Facilities Authority for a grant to the city of Vernon Center to predesign,
design, construct, furnish, and equip water infrastructure improvements, including
refurbishing a water tower, and replacement of wastewater collection, water distribution
systems, storm sewer system improvements, and related local road improvements. 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 $6,000,000 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