1.1 	A bill for an act
1.2 	relating to capital investment; appropriating money for flood mitigation 
1.3 	improvements in Moorhead; 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. MOORHEAD; FLOOD DAMAGE REDUCTION PROJECTS; 
1.6 	FLOOD HAZARD MITIGATION GRANTS.
 1.7 		Subdivision 1.Appropriation. (a) $14,700,000 is appropriated from the bond 
1.8 	proceeds fund to the commissioner of natural resources for the state share of flood hazard 
1.9 	mitigation grants for publicly owned capital improvements to prevent or alleviate flood 
1.10 	damage under Minnesota Statutes, section 103F.161. This appropriation is for flood 
1.11 	mitigation infrastructure improvements and property acquisition in Moorhead.
1.12 	(b) For the purposes of determining any nonstate match required, the project is 
1.13 	defined to include all local flood-related activities subsequent to April 2009.
1.14 	(c) To the extent that the cost of the project exceeds two percent of the median 
1.15 	household income in the municipality multiplied by the number of households in the 
1.16 	municipality, this appropriation is also for the local share of the project.
1.17 		Subd. 2.Bond sale. To provide the money appropriated in this section from the 
1.18 	bond proceeds fund, the commissioner of management and budget shall sell and issue 
1.19 	bonds of the state in an amount up to $14,700,000 in the manner, upon the terms, and with 
1.20 	the effect prescribed by Minnesota Statutes, sections 16A.631 to 16A.675, and by the 
1.21 	Minnesota Constitution, article XI, sections 4 to 7.

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