SF 730

as introduced - 85th Legislature (2007 - 2008) Posted on 12/15/2009 12:00am

A bill for an act
relating to capital improvements; appropriating money for a grant to the city of
Richfield to construct a new arterial street; authorizing the issuance of state
bonds.

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

Section 1. APPROPRIATION; RICHFIELD, CREATION OF ARTERIAL
STREET.

$4,632,000 is appropriated from the bond proceeds fund to the commissioner of
employment and economic development for a grant to the city of Richfield to acquire land
for, design, and construct a new north-south arterial street at 17th Avenue in the city.

Sec. 2. BOND SALE.

To provide the money appropriated in section 1 from the bond proceeds fund,
the commissioner of finance shall sell and issue bonds of the state in an amount up to
$4,632,000 in the manner, on 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.

Sec. 3. EFFECTIVE DATE.

Sections 1 and 2 are effective the day following final enactment.