1.1 	A bill for an act
1.2 	relating to capital investment; appropriating money for Chanhassen to acquire 
1.3 	property along Bluff Creek; 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. CHANHASSEN PROPERTY ACQUISITION; BLUFF CREEK.
 1.6 		Subdivision 1.Appropriation. $553,500 is appropriated from the bond proceeds 
1.7 	fund to the Metropolitan Council for a grant to the city of Chanhassen to acquire all 
1.8 	or a portion of seven properties, totaling up to 139 acres of land, within the riparian 
1.9 	zone of Bluff Creek in order to stabilize gullies and escarpments along the creek. This 
1.10 	appropriation is not available until the council determines that at least an equal amount 
1.11 	has been committed to the project from nonstate sources.
1.12 		Subd. 2.Bond sale. To provide the money appropriated in this section from the 
1.13 	bond proceeds fund, the commissioner of management and budget shall sell and issue 
1.14 	bonds of the state in an amount up to $553,500 in the manner, upon the terms, and with 
1.15 	the effect prescribed by Minnesota Statutes, sections 16A.631 to 16A.675, and by the 
1.16 	Minnesota Constitution, article XI, sections 4 to 7.

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