1.1 	A bill for an act
1.2 	relating to capital investment; appropriating money for replacement of schools 
1.3 	damaged by flooding in Rushford and Moose Lake; authorizing the sale and 
1.4 	issuance of state bonds.
1.5 	BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA:

1.6 	Section 1. FLOOD DAMAGED SCHOOLS.
 1.7 		Subdivision 1.Appropriation. (a) $40,000,000 is appropriated from the bond 
1.8 	proceeds fund to the commissioner of education.
1.9 	(b) The lesser of 75 percent of the total project cost or $20,000,000 is for a grant to 
1.10 	Independent School District No. 239, Rushford-Peterson, to predesign, design, construct, 
1.11 	furnish, and equip a single prekindergarten through grade 12 school facility in the city 
1.12 	of Rushford, to replace school facilities severely damaged by flooding on August 18 
1.13 	and 19, 2007.
1.14 	(c) The lesser of 75 percent of the total project cost or $20,000,000 is for a grant to 
1.15 	Independent School District No. 97, Moose Lake, to predesign, design, construct, furnish, 
1.16 	and equip a single prekindergarten though grade 12 school facility in the city of Moose 
1.17 	Lake, to replace school district facilities severely damaged by flooding on June 21, 2012.
1.18 	(d) Buildings and land acquired, improved, or constructed with this appropriation 
1.19 	may not be located within a floodplain, as defined in Minnesota Statues, section 103F.111, 
1.20 	subdivision 4.
1.21 	(e) The commissioner must not award a grant under this section until the school 
1.22 	district has conducted a successful referendum for the school project under Minnesota 
1.23 	Statutes, section 475.58.
2.1 		Subd. 2.Bond sale. To provide the money appropriated in this section from the 
2.2 	bond proceeds fund, the commissioner of management and budget shall sell and issue 
2.3 	bonds of the state in an amount up to $40,000,000 in the manner, upon the terms, and with 
2.4 	the effect prescribed by Minnesota Statutes, sections 16A.631 to 16A.675, and by the 
2.5 	Minnesota Constitution, article XI, sections 4 to 7.

2.6 	EFFECTIVE DATE. This section is effective the day following final enactment.