as introduced - 88th Legislature (2013 - 2014) Posted on 02/14/2013 01:57pm
Engrossments | ||
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Introduction | Posted on 02/14/2013 |
A bill for an act
relating to capital investment; appropriating money to the Minnesota Valley
Regional Rail Authority; authorizing sale and issuance of general obligation
bonds.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA:
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$10,000,000 is appropriated from the bond proceeds
fund to the commissioner of transportation for a grant to the Minnesota Valley Regional
Rail Authority for environmental studies, predesign, design, and rehabilitation of railroad
track from Norwood-Young America to Hanley Falls. A grant under this section is in
addition to any grant, loan, or loan guarantee for this project made by the commissioner
under Minnesota Statutes, sections 222.46 to 222.62. This appropriation is in addition to
the appropriation in Laws 2009, chapter 93, article 1, section 11, subdivision 4.
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To provide the money appropriated by
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 $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.
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This section is effective the day following final enactment.
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