HF 266

Introduction - 87th Legislature (2011 - 2012)

Posted on 01/31/2011 10:15 a.m.

A bill for an act
relating to transportation; appropriating money for rail service improvement
program; authorizing sale and issuance of state bonds.

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

Section 1. new text begin MINNESOTA RAIL SERVICE IMPROVEMENT PROGRAM.
new text end

new text begin Subdivision 1. new text end

new text begin Appropriation. new text end

new text begin $8,000,000 is appropriated from the bond proceeds
fund to the commissioner of transportation for the rail service improvement program, to
be expended as provided in Minnesota Statutes, section 222.50, subdivision 7.
new text end

new text begin Subd. 2. new text end

new text begin Bond sale. new text end

new text begin To provide the money appropriated in subdivision 1 from the
bond proceeds fund, the commissioner of management and budget shall sell and issue
bonds of the state in an amount up to $8,000,000 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.
new text end

new text begin EFFECTIVE DATE. new text end

new text begin This section is effective the day following final enactment.
new text end