Bill Text: MN HF1921 | 2011-2012 | 87th Legislature | Introduced
Bill Title: Greater Minnesota business development infrastructure and the Big Lake Regional Rail Park funding provided, bonds issued, and money appropriated.
Spectrum: Partisan Bill (Republican 1-0)
Status: (Introduced - Dead) 2012-01-24 - Introduction and first reading, referred to Jobs and Economic Development Finance [HF1921 Detail]
Download: Minnesota-2011-HF1921-Introduced.html
1.2relating to capital investment; appropriating money for greater Minnesota
1.3business development infrastructure and the Big Lake Regional Rail Park;
1.4authorizing the sale and issuance of state bonds.
1.5BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA:
1.6 Section 1. BIG LAKE REGIONAL RAIL PARK.
1.7 Subdivision 1. Appropriation. $2,900,000 is appropriated from the bond proceeds
1.8fund to the commissioner of employment and economic development for the greater
1.9Minnesota business development infrastructure grant program under Minnesota Statutes,
1.10section 116J.431, for a grant to the city of Big Lake to construct on city-owned land in
1.11the Regional Rail Park a rail spur and related infrastructure. Notwithstanding the match
1.12requirements in Minnesota Statutes, section 116J.431, this appropriation is available
1.13when the commissioner determines that at least $1,000,000 has been committed to the
1.14project from 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 $2,900,000 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.
1.3business development infrastructure and the Big Lake Regional Rail Park;
1.4authorizing the sale and issuance of state bonds.
1.5BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA:
1.6 Section 1. BIG LAKE REGIONAL RAIL PARK.
1.7 Subdivision 1. Appropriation. $2,900,000 is appropriated from the bond proceeds
1.8fund to the commissioner of employment and economic development for the greater
1.9Minnesota business development infrastructure grant program under Minnesota Statutes,
1.10section 116J.431, for a grant to the city of Big Lake to construct on city-owned land in
1.11the Regional Rail Park a rail spur and related infrastructure. Notwithstanding the match
1.12requirements in Minnesota Statutes, section 116J.431, this appropriation is available
1.13when the commissioner determines that at least $1,000,000 has been committed to the
1.14project from 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 $2,900,000 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.
