HF 383

as introduced - 91st Legislature (2019 - 2020) Posted on 01/28/2019 01:56pm

A bill for an act
relating to capital investment; appropriating money for flood hazard mitigation
grants; authorizing the sale and issuance of state bonds.

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

Section 1. new text begin FLOOD HAZARD MITIGATION GRANT; APPROPRIATION.
new text end

new text begin Subdivision 1. new text end

new text begin Appropriation. new text end

new text begin (a) $1,250,000 is appropriated from the bond proceeds
fund to the commissioner of natural resources for the state share of a flood hazard mitigation
grant to the cities of Perley and Hendrum for publicly owned capital improvements to
prevent or alleviate flood damages under Minnesota Statutes, section 103F.161.
new text end

new text begin (b) Project priorities shall be determined by the commissioner as appropriate, based on
need and consideration of available leveraging of federal, local, and state funds.
new text end

new text begin (c) For any project listed in this subdivision that the commissioner determines is not
ready to proceed or does not expend all the money allocated to it, the commissioner may
allocate that project's money to a project on the commissioner's priority list.
new text end

new text begin (d) To the extent that the cost of a project exceeds two percent of the median household
income in the municipality multiplied by the number of households in the municipality, this
appropriation is also for the local share of the project.
new text end

new text begin (e) Local project match may include all costs associated with planning, engineering,
acquisition, and construction. The project grants are based on a reimbursable payment
process and reconciliation of the project's shared costs will be finalized upon project
completion certification.
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 act from the bond
proceeds fund, the commissioner of management and budget shall sell and issue bonds of
the state in an amount up to $1,250,000 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