SF 742

as introduced - 91st Legislature (2019 - 2020) Posted on 01/31/2019 04:11pm

A bill for an act
relating to capital investment; appropriating money for capital improvements to
Rochester 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 ROCHESTER INTERNATIONAL AIRPORT; APPROPRIATION AND
BOND SALE AUTHORIZATION.
new text end

new text begin Subdivision 1. new text end

new text begin Appropriation. new text end

new text begin $7,000,000 is appropriated from the bond proceeds fund
to the commissioner of transportation for a grant to the city of Rochester for the state
contribution to the planning; environmental planning, permitting, and mitigation; land
acquisition; design; construction; and administration for the reconstruction, extension, and
instrument approach improvements of Runway 2/20 at the Rochester International Airport.
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 $7,000,000 in the manner, upon the terms, and with the effect
prescribed by Minnesota Statutes, section 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