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Minnesota Legislature

Office of the Revisor of Statutes

SF 1581

as introduced - 91st Legislature (2019 - 2020) Posted on 02/21/2019 03:09pm

KEY: stricken = removed, old language.
underscored = added, new language.

Current Version - as introduced

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A bill for an act
relating to capital investment; appropriating money for development of riverfront
corridor in Fergus Falls; authorizing the sale and issuance of state bonds.

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

Section 1. new text beginFERGUS FALLS; RIVERFRONT CORRIDOR.
new text end

new text begin Subdivision 1. new text end

new text begin Appropriation. new text end

new text begin $1,750,000 is appropriated from the bond proceeds fund
to the commissioner of employment and economic development for a grant to the city of
Fergus Falls for predesign, design, and construction of a downtown riverfront corridor
improvement project to include an amphitheater, river market, public arts space, interactive
water components, and related publicly owned infrastructure and amenities. This
appropriation is not available until the commissioner of management and budget determines
that $1,750,000 has been committed from nonstate sources to complete the project. Amounts
committed to this project from nonstate sources for construction of an amphitheater, count
toward the nonstate match so long as the amphitheater is owned by the city.
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 $1,750,000 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