Minnesota SF 4215: Richfield veterans affordable housing construction and development bond issue and appropriation

Bill Text

1.1A bill for an act​
1.2relating to capital investment; appropriating money for the development and​
1.3construction of veterans affordable housing in the city of Richfield; authorizing​
1.4the sale and issuance of general obligation bonds.​
1.5BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA:​
1.6Section 1. VETERANS HOUSING DEVELOPMENT AND CONSTRUCTION.​
1.7Subdivision 1.Appropriation.$3,500,000 is appropriated from the bond proceeds fund​
1.8to the commissioner of employment and economic development for a grant to the city of​
1.9Richfield for the development and construction of Veterans Village, a 183-unit, veterans'​
1.10priority, multifamily housing project providing affordable housing opportunities on the site​
1.11of American Legion Post 435 in the city of Richfield.​
1.12Subd. 2.Bond sale.To provide the money appropriated in subdivision 1 from the state​
1.13general obligation bond proceeds account, the commissioner of management and budget​
1.14shall sell and issue bonds of the state in an amount up to $3,500,000 in the manner, upon​
1.15the terms, and with the effect prescribed by Minnesota Statutes, sections 16A.631 to 16A.675,​
1.16and by the Minnesota Constitution, article XI, sections 4 to 7. The proceeds of the bonds,​
1.17except accrued interest and any premiums received from the sale of the bonds, shall be​
1.18appropriated to the city of Richfield for the purposes set forth in subdivision 1.​
1.19EFFECTIVE DATE.This section is effective the day following final enactment.​
1​Section 1.​
22-07232as introduced​03/17/22 REVISOR JSK/KB​
SENATE​
STATE OF MINNESOTA​
S.F. No. 4215​
NINETY-SECOND SESSION​
(SENATE AUTHORS: TORRES RAY, Duckworth and Newton)​
OFFICIAL STATUS​D-PG​DATE​
Introduction and first reading​5567​03/23/2022​
Referred to Capital Investment​