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HF 2809

as introduced - 91st Legislature (2019 - 2020) Posted on 04/03/2019 11:00am

KEY: stricken = removed, old language.
underscored = added, new language.
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Engrossments
Introduction Posted on 04/03/2019

Current Version - as introduced

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A bill for an act
 relating to metropolitan government; providing for additional financing of
metropolitan area transit and paratransit capital expenditures; authorizing the
issuance of certain obligations; amending Minnesota Statutes 2018, section 473.39, subdivision 6, by adding a subdivision.

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

Section 1.

Minnesota Statutes 2018, section 473.39, is amended by adding a subdivision
to read:


new text begin Subd. 1v. new text end

new text begin Obligations. new text end

new text begin In addition to other authority in this section, the council may
issue certificates of indebtedness, bonds, or other obligations under this section in an amount
not exceeding $92,300,000 for capital expenditures as prescribed in the council's transit
capital improvement program and for related costs, including the costs of issuance and sale
of the obligations. Of this authorization, after July 1, 2019, the council may issue certificates
of indebtedness, bonds, or other obligations in an amount not exceeding $45,400,000 and
after July 1, 2020, the council may issue certificates of indebtedness, bonds, or other
obligations in an additional amount not exceeding $46,900,000.
 new text end

new text begin EFFECTIVE DATE; APPLICATION. new text end

new text begin This section is effective July 1, 2019, and
applies in the counties of Anoka, Carver, Dakota, Hennepin, Ramsey, Scott, and Washington.
 new text end

Sec. 2.

Minnesota Statutes 2018, section 473.39, subdivision 6, is amended to read:


Subd. 6.

Limitation; light rail transit.

The council is prohibited from expending any
proceeds from certificates of indebtedness, bonds, or other obligations under deleted text begin this sectiondeleted text end new text begin
subdivision 1unew text end for project development, land acquisition, or construction to (1) establish a
light rail transit line; or (2) expand a light rail transit line, including by extending a line or
adding additional stops.

new text begin EFFECTIVE DATE; APPLICATION. new text end

new text begin This section is effective the day following
final enactment and applies in the counties of Anoka, Carver, Dakota, Hennepin, Ramsey,
Scott, and Washington.
 new text end