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SF 2967

as introduced - 91st Legislature (2019 - 2020) Posted on 02/11/2020 03:45pm

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

Current Version - as introduced

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1.17

A bill for an act
relating to capital investment; appropriating money for capital investment;
appropriating money for water infrastructure in Minnetonka Beach; authorizing
the sale and issuance of state bonds.

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

Section 1. new text beginWATER INFRASTRUCTURE; MINNETONKA BEACH.
new text end

new text begin Subdivision 1. new text end

new text begin Appropriation. new text end

new text begin $8,233,000 is appropriated from the bond proceeds fund
to the Public Facilities Authority for a grant to the city of Minnetonka Beach for
improvements to the city's water system. 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 $8,233,000 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