HF 124

1st Engrossment - 83rd Legislature (2003 - 2004) Posted on 12/15/2009 12:00am

  1.1                          A bill for an act 
  1.2             relating to natural resources; appropriating money for 
  1.3             Mesabi Station on the Mesabi Trail; authorizing the 
  1.4             issuance of state bonds. 
  1.5   BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA: 
  1.6      Section 1.  [APPROPRIATION FOR MESABI STATION.] 
  1.7      $2,500,000 is appropriated from the bond proceeds fund to 
  1.8   the St. Louis and Lake counties regional railroad authority to 
  1.9   complete construction of Mesabi Station along the 132-mile 
  1.10  recreational trail known as Mesabi Trail and located on Lake 
  1.11  Mesabi at the intersection of marked U.S. highways Nos. 53 and 
  1.12  169 and marked trunk highway No. 135.  This appropriation is 
  1.13  dependent upon a matching contribution of $800,000 from other 
  1.14  sources, public or private.  This appropriation does not lapse 
  1.15  but is available until spent. 
  1.16     Sec. 2.  [BOND SALE.] 
  1.17     To provide the money appropriated in this act from the bond 
  1.18  proceeds fund, the commissioner of finance shall sell and issue 
  1.19  bonds of the state in an amount up to $2,500,000 in the manner, 
  1.20  upon the terms, and with the effect prescribed by Minnesota 
  1.21  Statutes, sections 16A.631 to 16A.675, and by the Minnesota 
  1.22  Constitution, article XI, sections 4 to 7.