SF 290

as introduced - 90th Legislature (2017 - 2018) Posted on 01/24/2017 08:31am

A bill for an act
relating to capital investment; appropriating money to restore the Stone Mill Dam
in Lanesboro; authorizing the issuance of state bonds.

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

Section 1. new text begin STONE MILL DAM; LANESBORO.
new text end

new text begin Subdivision 1. new text end

new text begin Appropriation. new text end

new text begin $4,800,000 is appropriated from the bond proceeds fund
to the commissioner of natural resources for a grant to the city of Lanesboro to repair and
renovate the Stone Mill Dam in Fillmore County. Notwithstanding the match requirements
in Minnesota Statutes, section 103G.515, this grant to the city of Lanesboro does not require
any 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 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 $4,800,000 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