SF 761

as introduced - 90th Legislature (2017 - 2018) Posted on 02/10/2017 09:05am

A bill for an act
relating to capital investment; appropriating money for the Lac qui Parle Yellow
Bank Watershed District; authorizing the sale and issuance of state bonds.

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

Section 1. new text begin LAC QUI PARLE YELLOW BANK WATERSHED DISTRICT.
new text end

new text begin Subdivision 1. new text end

new text begin Appropriation. new text end

new text begin $500,000 is appropriated from the bond proceeds fund
to the Board of Water and Soil Resources for a grant to the Lac qui Parle Yellow Bank
Watershed District for engineering analysis of two floodwater retention projects in section
29 of Norman Township and section 29/30 of Florida Township, Yellow Medicine County.
A grant for a project is not available until the board determines that at least $1 has been
committed to the project from nonstate sources for every $3 of state money.
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 $500,000 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