HF 2544

as introduced - 86th Legislature (2009 - 2010) Posted on 02/09/2010 11:31pm

A bill for an act
relating to capital investment; appropriating money for the Southern Rail
Corridor project; authorizing the sale and issuance of state bonds.

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

Section 1. new text begin SOUTHERN RAIL CORRIDOR PROJECT; APPROPRIATION AND
BOND SALE AUTHORIZATION.
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 a grant to the Olmsted County Regional
Rail Authority to predesign the Southern Rail Corridor project, originating near Dover in
Olmsted County and running south of the city of Rochester, returning to the main line
west of the city in Olmsted or Dodge County. The project should evaluate integrating
passenger rail in the corridor.
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 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 $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