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SF 3089

as introduced - 91st Legislature (2019 - 2020) Posted on 02/27/2020 03:19pm

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 infrastructure improvements
in the city of Annandale; authorizing the sale and issuance of state bonds.

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

Section 1. new text beginANNANDALE; INFRASTRUCTURE REPLACEMENT.
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
Annandale for predesign, design, construction, and replacement or renovation of street,
storm sewer, sanitary sewer, water main, and other capital improvements that are made
necessary by, or are most economically completed if performed at the same time as, road
work on marked Trunk Highways 24 and 55 in the city of Annandale. This appropriation
is not available until the commissioner of management and budget determines that at least
an equal amount has been committed from nonstate sources to complete the project. Amounts
spent by the city of Annandale for this project as of January 1, 2020, shall count toward the
nonstate match.
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