SF 891

as introduced - 93rd Legislature (2023 - 2024) Posted on 01/28/2023 10:33am

A bill for an act
relating to capital investment; appropriating money for development of housing
in the city of Spicer; authorizing the sale and issuance of state bonds.

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

Section 1. new text begin SPICER; HOUSING DEVELOPMENT.
new text end

new text begin Subdivision 1. new text end

new text begin Appropriation. new text end

new text begin $3,900,000 is appropriated from the bond proceeds fund
to the commissioner of employment and economic development for a grant to the city of
Spicer for the development of city-owned property known as Charly Arnie suitable for
residential single-family and multi-family homes. This appropriation includes money for
grading and other site preparation work and to design, construct, and equip the extension
of water and sewer and other utilities to the property, stormwater and roadway upgrades,
and other capital improvements to public infrastructure, necessary to make the property
suitable for residential housing.
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 $3,900,000 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