| 1 | 1 | | 1.1 A bill for an act |
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| 2 | 2 | | 1.2 relating to capital investment; appropriating money for street reconstruction in the |
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| 3 | 3 | | 1.3 city of Fairmont; authorizing the sale and issuance of state bonds. |
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| 4 | 4 | | 1.4BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA: |
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| 5 | 5 | | 1.5 Section 1. FAIRMONT; STREET RECONSTRUCTION. |
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| 6 | 6 | | 1.6 Subdivision 1.Appropriation.$10,538,000 is appropriated from the bond proceeds |
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| 7 | 7 | | 1.7fund to the commissioner of transportation for a grant to the city of Fairmont to construct |
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| 8 | 8 | | 1.8Kot Street from Charles Street to South Prairie Avenue and construct an extension of |
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| 9 | 9 | | 1.9Fairlakes Avenue to connect Woodland Avenue with Lake Avenue. This appropriation |
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| 10 | 10 | | 1.10includes money for right-of-way and easement acquisition, public utilities, and associated |
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| 11 | 11 | | 1.11street infrastructure. This appropriation is exempt from the requirements of Minnesota |
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| 12 | 12 | | 1.12Statutes, section 16A.86, subdivision 4. |
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| 13 | 13 | | 1.13 Subd. 2.Bond sale.To provide the money appropriated in this section from the bond |
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| 14 | 14 | | 1.14proceeds fund, the commissioner of management and budget shall sell and issue bonds of |
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| 15 | 15 | | 1.15the state in an amount up to $10,538,000 in the manner, upon the terms, and with the effect |
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| 16 | 16 | | 1.16prescribed by Minnesota Statutes, sections 16A.631 to 16A.675, and by the Minnesota |
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| 17 | 17 | | 1.17Constitution, article XI, sections 4 to 7. |
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| 18 | 18 | | 1.18 EFFECTIVE DATE.This section is effective the day following final enactment. |
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| 19 | 19 | | 1Section 1. |
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| 20 | 20 | | 25-01282 as introduced12/10/24 REVISOR JSK/VJ |
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| 21 | 21 | | SENATE |
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| 22 | 22 | | STATE OF MINNESOTA |
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| 23 | 23 | | S.F. No. 405NINETY-FOURTH SESSION |
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| 24 | 24 | | (SENATE AUTHORS: DRAHEIM) |
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| 25 | 25 | | OFFICIAL STATUSD-PGDATE |
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| 26 | 26 | | Introduction and first reading01/21/2025 |
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| 27 | 27 | | Referred to Capital Investment |
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