Bill Text: MN SF1025 | 2011-2012 | 87th Legislature | Introduced

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Bill Title: New Ulm flood hazard mitigation bond issue and appropriation

Spectrum: Partisan Bill (Republican 1-0)

Status: (Passed) 2011-08-02 - Adopted HF23, Sec. 5, Sub. 3 (First Special Session) [SF1025 Detail]

Download: Minnesota-2011-SF1025-Introduced.html

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A bill for an act

relating to capital investment; appropriating money for flood hazard mitigation in
New Ulm; authorizing the sale and issuance of state bonds.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA:

    Section 1. NEW ULM FLOOD HAZARD MITIGATION.
    Subdivision 1. Appropriation. $1,000,000 is appropriated from the bond proceeds
fund to the commissioner of natural resources for a grant to the city of New Ulm
for publicly owned capital improvements to prevent or alleviate flood damage under
Minnesota Statutes, section 103F.161.
    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.