HF 267

as introduced - 89th Legislature (2015 - 2016) Posted on 01/26/2015 04:08pm

A bill for an act
relating to capital investment; appropriating money for the Southwest Corridor
light rail transit 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 SOUTHWEST CORRIDOR LIGHT RAIL TRANSIT LINE.
new text end

new text begin Subdivision 1. new text end

new text begin Appropriation. new text end

new text begin $121,000,000 is appropriated from the bond
proceeds fund to the Metropolitan Council for environmental studies and preliminary
engineering, to acquire real property or interests in real property, and to design and
construct the Southwest Corridor light rail transit line from the Hiawatha light rail transit
line in downtown Minneapolis to Eden Prairie.
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 $121,000,000 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