HF 2596

as introduced - 86th Legislature (2009 - 2010) Posted on 02/09/2010 11:32pm

A bill for an act
relating to capital investment; appropriating money for a Chicago to the Twin
Cities high-speed rail line; authorizing the sale and issuance of state bonds.

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

Section 1. new text begin CHICAGO TO THE TWIN CITIES HIGH-SPEED RAIL LINE.
new text end

new text begin Subdivision 1. new text end

new text begin Appropriation. new text end

new text begin $10,000,000 is appropriated from the bond proceeds
fund to the commissioner of transportation for environmental analysis and preliminary
engineering relating to a high-speed rail line between Chicago and the Twin Cities
including the St. Paul Union Depot.
new text end

new text begin No part of this appropriation may be spent to acquire or better capital improvements
that are located outside the state of Minnesota, or that may be used from time to time
outside the state of Minnesota.
new text end

new text begin This appropriation may be used to match federal funding for the project.
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 $10,000,000 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