1.1 	A bill for an act
1.2 	relating to capital investment; appropriating money for development of housing 
1.3 	in the city of Spicer; authorizing the sale and issuance of state bonds.
1.4 	BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA:

1.5 	Section 1. SPICER; HOUSING DEVELOPMENT.
 1.6 		Subdivision 1.Appropriation. $3,900,000 is appropriated from the bond proceeds fund 
1.7 	to the commissioner of employment and economic development for a grant to the city of 
1.8 	Spicer for the development of  city-owned property known as Charly Arnie suitable for 
1.9 	residential single-family and multi-family homes. This appropriation includes money for 
1.10 	grading and other site preparation work and to design, construct, and equip the extension 
1.11 	of water and sewer and other utilities to the property, stormwater and roadway upgrades, 
1.12 	and other capital improvements to public infrastructure, necessary to make the property 
1.13 	suitable for residential housing.
1.14 		Subd. 2.Bond sale. To provide the money appropriated in this section from the bond 
1.15 	proceeds fund, the commissioner of management and budget shall sell and issue bonds of 
1.16 	the state in an amount up to $3,900,000 in the manner, upon the terms, and with the effect 
1.17 	prescribed by Minnesota Statutes, sections 16A.631 to 16A.675, and by the Minnesota 
1.18 	Constitution, article XI, sections 4 to 7.

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