1.1                          A bill for an act
  1.2             relating to capital improvements; authorizing a grant 
  1.3             to the Albert Lea Port Authority to remodel a building 
  1.4             for use as a business incubator; authorizing issuance 
  1.5             of bonds; appropriating money. 
  1.6   BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA: 
  1.7      Section 1.  [ALBERT LEA PORT AUTHORITY; APPROPRIATION.] 
  1.8      $500,000 is appropriated from the bond proceeds fund to the 
  1.9   commissioner of trade and economic development for a grant to 
  1.10  the Albert Lea Port Authority for the design and remodeling of a 
  1.11  building in the Northaire Industrial Park in Albert Lea for use 
  1.12  as a business development center, subject to the requirements of 
  1.13  Minnesota Statutes, section 16A.695. 
  1.14     Sec. 2.  [BOND SALE.] 
  1.15     To provide the money appropriated in section 1 from the 
  1.16  bond proceeds fund, the commissioner of finance shall sell and 
  1.17  issue bonds of the state in an amount up to $500,000 in the 
  1.18  manner, on the terms, and with the effect prescribed by 
  1.19  Minnesota Statutes, sections 16A.631 to 16A.675, and by the 
  1.20  Minnesota Constitution, article XI, sections 4 to 7. 
  1.21     Sec. 3.  [EFFECTIVE DATE.] 
  1.22     Sections 1 and 2 are effective the day following final 
  1.23  enactment.