Bill Text: MN HF2465 | 2011-2012 | 87th Legislature | Introduced

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Bill Title: Cambridge; street reconstruction project grant funding provided, bonds issued, and money appropriated.

Spectrum: Partisan Bill (Republican 1-0)

Status: (Introduced - Dead) 2012-02-22 - Introduction and first reading, referred to Jobs and Economic Development Finance [HF2465 Detail]

Download: Minnesota-2011-HF2465-Introduced.html

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A bill for an act

relating to capital investment; appropriating money for a grant to the city of
Cambridge for a street reconstruction project; authorizing the sale and issuance
of state bonds.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA:

    Section 1. CAMBRIDGE; ALABAMA STREET RECONSTRUCTION.
    Subdivision 1. Appropriation. $1,000,000 is appropriated from the bond proceeds
fund to the commissioner of employment and economic development for a grant to the city
of Cambridge for the Alabama Street reconstruction project, including land acquisition,
engineering, and construction. This appropriation is not available until at least $2,300,000
is committed to the project from nonstate sources.
    Subd. 2. Bond sale. 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 $1,000,000 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.
EFFECTIVE DATE.This section is effective the day following final enactment.