SF 3122

as introduced - 91st Legislature (2019 - 2020) Posted on 11/03/2020 09:37am

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

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

Section 1. new text begin COHASSET; MISSISSIPPI RIVERFRONT DEVELOPMENT.
new text end

new text begin Subdivision 1. new text end

new text begin Appropriation. new text end

new text begin $2,850,000 is appropriated from the bond proceeds fund
to the commissioner of employment and economic development for a grant to the city of
Cohasset to prepare the site for, predesign, design, and construct a road, utilities, green
space, and a marina on Mississippi riverfront property in the city. 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.
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 $2,850,000 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