SF 664

as introduced - 87th Legislature (2011 - 2012) Posted on 02/23/2012 09:02am

A bill for an act
relating to capital investment; appropriating money for flood hazard mitigation
grants; authorizing the sale and issuance of state bonds.

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

Section 1. new text begin FLOOD HAZARD MITIGATION.
new text end

new text begin Subdivision 1. new text end

new text begin Appropriation. new text end

new text begin (a) $28,000,000 is appropriated from the bond
proceeds fund to the commissioner of natural resources for the state share of flood hazard
mitigation grants for publicly owned capital improvements to prevent or alleviate flood
damage under Minnesota Statutes, section 103F.161.
new text end

new text begin (b) This appropriation may be used for the following county, municipal,
and watershed district projects: Ada, Afton, Alvarado, Austin, Brandt Angus
(Middle-Snake-Tamarac Rivers Watershed District), Breckenridge, Clay County, Climax,
Crookston, Georgetown, Granite Falls, Moorhead, Neilsville, Newport, North Ottawa
(Bois de Sioux Watershed District), Oakport Township, Oslo, Roseau, and Shelly.
new text end

new text begin (c) Up to $6,000,000 of this appropriation is for the project in Roseau.
new text end

new text begin (d) To the extent that the cost of a project exceeds two percent of the median
household income in the municipality, township, or county, multiplied by the number of
households in the municipality, township, or county, this appropriation is also for the
local share of the project.
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 $28,000,000 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