SF 294

as introduced - 90th Legislature (2017 - 2018) Posted on 01/24/2017 08:32am

A bill for an act
relating to capital investment; appropriating money for the Lake Redwood
reclamation and enhancement project; authorizing the sale and issuance of state
bonds.

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

Section 1. new text begin LAKE REDWOOD RECLAMATION AND ENHANCEMENT PROJECT.
new text end

new text begin Subdivision 1. new text end

new text begin Appropriation. new text end

new text begin $7,825,000 is appropriated from the bond proceeds fund
to the commissioner of the Pollution Control Agency for a grant to the Redwood-Cottonwood
Rivers control area, a joint powers entity, to predesign, design, construct, and equip the
reservoir reclamation and enhancement of the 66-acre Lake Redwood Reservoir, to remove
approximately 650,000 cubic yards of sediment and increase its depth from 2.8 feet to 20
feet in order to secure renewable energy capacity of the hydroelectric dam which is impeded
by lack of water capacity, reduce the flow of pollutants to the Minnesota River, and increase
fish habitat and enhance recreational opportunities.
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 $7,825,000 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