HF 1025

as introduced - 83rd Legislature (2003 - 2004) Posted on 12/15/2009 12:00am

  1.1                          A bill for an act 
  1.2             relating to public safety; clarifying eligibility of 
  1.3             local governments for state aid in building components 
  1.4             of the regionwide public safety radio and 
  1.5             communications system; amending Minnesota Statutes 
  1.6             2002, sections 473.891, subdivision 10; 473.898, 
  1.7             subdivision 3. 
  1.8   BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA: 
  1.9      Section 1.  Minnesota Statutes 2002, section 473.891, 
  1.10  subdivision 10, is amended to read: 
  1.11     Subd. 10.  [SECOND PHASE.] "Second phase" means the 
  1.12  metropolitan radio board building subsystems for providing 
  1.13  assistance to local government units building subsystems in the 
  1.14  metropolitan area that did not build their own subsystems in the 
  1.15  first phase. 
  1.16     Sec. 2.  Minnesota Statutes 2002, section 473.898, 
  1.17  subdivision 3, is amended to read: 
  1.18     Subd. 3.  [LIMITATIONS.] (a) The principal amount of the 
  1.19  bonds issued pursuant to subdivision 1, exclusive of any 
  1.20  original issue discount, shall not exceed the amount of 
  1.21  $10,000,000 plus the amount the council determines necessary to 
  1.22  pay the costs of issuance, fund reserves, debt service, and pay 
  1.23  for any bond insurance or other credit enhancement. 
  1.24     (b) In addition to the amount authorized under paragraph 
  1.25  (a), the council may issue bonds under subdivision 1 in a 
  1.26  principal amount of $3,306,300, plus the amount the council 
  2.1   determines necessary to pay the cost of issuance, fund reserves, 
  2.2   debt service, and any bond insurance or other credit 
  2.3   enhancement.  The proceeds of bonds issued under this paragraph 
  2.4   may not be used to finance portable or subscriber radio sets. 
  2.5      (c) In addition to the amount authorized under paragraphs 
  2.6   (a) and (b), the council may issue bonds under subdivision 1 in 
  2.7   a principal amount of $12,000,000, plus the amount the council 
  2.8   determines necessary to pay the costs of issuance, fund 
  2.9   reserves, debt service, and any bond insurance or other credit 
  2.10  enhancement.  The proceeds of bonds issued under this paragraph 
  2.11  must be used to pay up to 30 percent of the cost to a local 
  2.12  government unit of building a subsystem or making improvements 
  2.13  to an existing 800 MHz radio system that is capable of 
  2.14  interoperating with the regionwide public safety radio and 
  2.15  communications system and may not be used to finance portable or 
  2.16  subscriber radio sets.  The council must time the sale and 
  2.17  issuance of the bonds so that the debt service on the bonds can 
  2.18  be covered by the additional revenue that will become available 
  2.19  in the fiscal year ending June 30, 2005, generated under section 
  2.20  403.11 and appropriated under section 473.901.  
  2.21     Sec. 3.  [EFFECTIVE DATE.] 
  2.22     This act is effective the day following final enactment.