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SF 332

as introduced - 90th Legislature (2017 - 2018) Posted on 01/27/2017 08:33am

KEY: stricken = removed, old language.
underscored = added, new language.

Current Version - as introduced

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1.17

A bill for an act
relating to capital investment; appropriating money for water infrastructure in the
city of Cold Spring; authorizing the sale and issuance of state bonds.

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

Section 1. new text begin CITY OF COLD SPRING; WATER INFRASTRUCTURE.
new text end

new text begin Subdivision 1. new text end

new text begin Appropriation. new text end

new text begin $4,660,000 is appropriated from the bond proceeds fund
to the Public Facilities Authority for a grant to the city of Cold Spring to acquire land,
predesign, design, engineer, construct, furnish, and equip water infrastructure, including
drilling new wells, a water treatment plant, and piping for water distribution. Amounts spent
by the city on this project as of the effective date of this section, estimated to be $782,000,
are included in the nonstate contribution and no further match is required.
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 $4,660,000 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