SF 2644

as introduced - 89th Legislature (2015 - 2016) Posted on 03/15/2016 09:54am

A bill for an act
relating to capital investment; appropriating money for a Louisiana Avenue rail
transit station; authorizing the sale and issuance of state bonds.

BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA:

Section 1. LOUISIANA AVENUE RAIL TRANSIT STATION; ST. LOUIS PARK.

Subdivision 1.

Appropriation.

$3,460,000 is appropriated from the bond proceeds
fund to the commissioner of transportation for a grant to the city of St. Louis Park to
acquire land for, and design, construct, furnish, and equip capital improvements to, a
transit station at Louisiana Avenue and the surrounding area, including new sidewalks, a
pedestrian walkway connecting two neighborhoods currently separated by a freight rail
track, removal of the Canadian Pacific freight rail switching wye, utility and roadway
improvements, and construction of a regional trail underpass and trail connection to Park
Nicollet Methodist Hospital. This appropriation is not available until at least an equal
amount is committed from nonstate sources.

Subd. 2.

Bond sale.

To provide the money appropriated in this section from the
bond proceeds fund, the commissioner of management and budget shall sell and issue
bonds of the state in an amount up to $3,460,000 in the manner, upon the terms, and with
the effect prescribed by Minnesota Statutes, sections 16A.631 to 16A.675, and by the
Minnesota Constitution, article XI, sections 4 to 7.

EFFECTIVE DATE.

This section is effective the day following final enactment.