1.1 A bill for an act
1.2 relating to capital investment; appropriating money for the port development
1.3 assistance 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.$44,000,000 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 proceeds
1.9of these grants must be publicly owned.
1.10 Subd. 2.Bond sale.To provide the money appropriated in this section from the bond
1.11proceeds fund, the commissioner of management and budget shall sell and issue bonds of
1.12the state in an amount up to $44,000,000 in the manner, upon the terms, and with the effect
1.13prescribed by Minnesota Statutes, sections 16A.631 to 16A.675, and by the Minnesota
1.14Constitution, article XI, sections 4 to 7.
1.15 EFFECTIVE DATE.This section is effective the day following final enactment.
1Section 1.
REVISOR JSK/DG 25-0267801/22/25
State of Minnesota
This Document can be made available
in alternative formats upon request
HOUSE OF REPRESENTATIVES
H. F. No. 1537
NINETY-FOURTH SESSION