Bill Text: MN SF120 | 2011-2012 | 87th Legislature | Introduced
Bill Title: Port development assistance bond issue and appropriation
Spectrum: Bipartisan Bill
Status: (Introduced - Dead) 2011-01-27 - Referred to Capital Investment [SF120 Detail]
Download: Minnesota-2011-SF120-Introduced.html
1.2relating to capital investment; appropriating money for the port development
1.3assistance program; authorizing the sale and issuance of state bonds.
1.4BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA:
1.5 Section 1. PORT DEVELOPMENT ASSISTANCE.
1.6 Subdivision 1. Appropriation. $10,000,000 is appropriated from the bond proceeds
1.7fund to the commissioner of transportation for purposes of the port development assistance
1.8program under Minnesota Statutes, chapter 457A. Any improvements made with the
1.9proceeds of these grants must be publicly owned.
1.10 Subd. 2. Bond sale. To provide the money appropriated in this section from the
1.11bond proceeds fund, the commissioner of management and budget shall sell and issue
1.12bonds of the state in an amount up to $10,000,000 in the manner, upon the terms, and with
1.13the effect prescribed by Minnesota Statutes, sections 16A.631 to 16A.675, and by the
1.14Minnesota Constitution, article XI, sections 4 to 7.
1.15EFFECTIVE DATE.This section is effective the day following final enactment.
1.3assistance program; authorizing the sale and issuance of state bonds.
1.4BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA:
1.5 Section 1. PORT DEVELOPMENT ASSISTANCE.
1.6 Subdivision 1. Appropriation. $10,000,000 is appropriated from the bond proceeds
1.7fund to the commissioner of transportation for purposes of the port development assistance
1.8program under Minnesota Statutes, chapter 457A. Any improvements made with the
1.9proceeds of these grants must be publicly owned.
1.10 Subd. 2. Bond sale. To provide the money appropriated in this section from the
1.11bond proceeds fund, the commissioner of management and budget shall sell and issue
1.12bonds of the state in an amount up to $10,000,000 in the manner, upon the terms, and with
1.13the effect prescribed by Minnesota Statutes, sections 16A.631 to 16A.675, and by the
1.14Minnesota Constitution, article XI, sections 4 to 7.
1.15EFFECTIVE DATE.This section is effective the day following final enactment.
