SF 2606

Introduction - 84th Legislature (2005 - 2006)

Posted on 12/15/2009 12:00 a.m.

A bill for an act
relating to capital improvements; appropriating money for the Northeast
Minnesota rail initiative; authorizing the sale and issuance of state bonds.

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

Section 1. new text begin APPROPRIATION.
new text end

new text begin $....... is appropriated from the bond proceeds fund to the commissioner of
transportation for a grant to St. Louis County for renovation and upgrades to the St.
Louis County Heritage and Arts Center (the Duluth Depot) and for Phase I design,
engineering, construction, and purchase of rolling stock, railway stations, park-and-ride
lots, and other railroad appurtenances necessary to facilitate the return of inter-city and
commuter/passenger rail service within Duluth and the Duluth/Twin Cities rail corridor.
new text end

Sec. 2. new text begin BOND SALE.
new text end

new text begin To provide the money appropriated in section 1 from the bond proceeds fund, the
commissioner of finance shall sell and issue bonds of the state in an amount up to $....... 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

Sec. 3. new text begin EFFECTIVE DATE.
new text end

new text begin Sections 1 and 2 are effective the day following final enactment.
new text end