Bill Text: MN HF1325 | 2011-2012 | 87th Legislature | Introduced
Bill Title: Floodwood business development public infrastructure funding provided, bonds issued, and money appropriated.
Spectrum: Partisan Bill (Democrat 3-0)
Status: (Introduced - Dead) 2011-03-29 - Introduction and first reading, referred to Jobs and Economic Development Finance [HF1325 Detail]
Download: Minnesota-2011-HF1325-Introduced.html
1.2relating to capital investment; appropriating money for a grant to the city of
1.3Floodwood for business development public infrastructure; authorizing the sale
1.4and issuance of state bonds.
1.5BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA:
1.6 Section 1. FLOODWOOD BUSINESS PARK DEVELOPMENT.
1.7 Subdivision 1. Appropriation. $565,000 is appropriated from the bond proceeds
1.8fund to the commissioner of employment and economic development for the greater
1.9Minnesota business development public infrastructure grant program under Minnesota
1.10Statutes, section 116J.431, for a grant to the city of Floodwood for approximately one
1.11mile of utilities, including public water and wastewater infrastructure, and for turn lanes,
1.12to support development of a business park along Highway 73 south in the city. This
1.13appropriation is not available until at least an equal amount is committed to the project
1.14from nonstate sources.
1.15 Subd. 2. Bond sale. To provide the money appropriated in this section from the
1.16bond proceeds fund, the commissioner of management and budget shall sell and issue
1.17bonds of the state in an amount up to $565,000 in the manner, upon the terms, and with
1.18the effect prescribed by Minnesota Statutes, sections 16A.631 to 16A.675, and by the
1.19Minnesota Constitution, article XI, sections 4 to 7.
1.20EFFECTIVE DATE.This section is effective the day following final enactment.
1.3Floodwood for business development public infrastructure; authorizing the sale
1.4and issuance of state bonds.
1.5BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA:
1.6 Section 1. FLOODWOOD BUSINESS PARK DEVELOPMENT.
1.7 Subdivision 1. Appropriation. $565,000 is appropriated from the bond proceeds
1.8fund to the commissioner of employment and economic development for the greater
1.9Minnesota business development public infrastructure grant program under Minnesota
1.10Statutes, section 116J.431, for a grant to the city of Floodwood for approximately one
1.11mile of utilities, including public water and wastewater infrastructure, and for turn lanes,
1.12to support development of a business park along Highway 73 south in the city. This
1.13appropriation is not available until at least an equal amount is committed to the project
1.14from nonstate sources.
1.15 Subd. 2. Bond sale. To provide the money appropriated in this section from the
1.16bond proceeds fund, the commissioner of management and budget shall sell and issue
1.17bonds of the state in an amount up to $565,000 in the manner, upon the terms, and with
1.18the effect prescribed by Minnesota Statutes, sections 16A.631 to 16A.675, and by the
1.19Minnesota Constitution, article XI, sections 4 to 7.
1.20EFFECTIVE DATE.This section is effective the day following final enactment.
