HF 602

as introduced - 94th Legislature (2025 - 2026) Posted on 02/13/2025 02:45pm

A bill for an act
relating to capital investment; appropriating money for improvements to water
and sewer infrastructure and street reconstruction in the city of Stephen; authorizing
the sale and issuance of state bonds.

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

Section 1. new text begin STEPHEN; WATER AND SEWER INFRASTRUCTURE AND STREET
RECONSTRUCTION.
new text end

new text begin Subdivision 1. new text end

new text begin Appropriation. new text end

new text begin $8,000,000 is appropriated from the bond proceeds fund
to the Public Facilities Authority for a grant to the city of Stephen to design, construct, and
equip the replacement of aging and failing municipal infrastructure. This appropriation
includes money for improvements to and replacement of water distribution system, sanitary
sewer system, and storm sewer system infrastructure, and reconstruction of city streets.
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 $8,000,000 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