SF 1023

as introduced - 89th Legislature (2015 - 2016) Posted on 08/21/2015 11:47am

A bill for an act
relating to capital investment; appropriating money for a road and bridge project
in Sandstone; authorizing the sale and issuance of state bonds.

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

Section 1. new text begin SANDSTONE; LOCAL ROAD AND BRIDGE.
new text end

new text begin Subdivision 1. new text end

new text begin Appropriation. new text end

new text begin $1,370,000 is appropriated from the bond proceeds
fund to the commissioner of employment and economic development for a grant to the
city of Sandstone for predesign, design, engineering, and construction of a road extending
south off of marked Trunk Highway 23 across from Lundorff Drive to the airport area, and
including a bridge over Skunk Creek in Sandstone, in order to facilitate repurposing of
an area of the airport into a business park. This appropriation is not available until the
commissioner of management and budget determines that at least an equal amount is
committed to the project from nonstate sources.
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 $1,370,000 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