as introduced - 86th Legislature (2009 - 2010) Posted on 02/09/2010 01:53am
Engrossments | ||
---|---|---|
Introduction | Posted on 03/11/2009 |
A bill for an act
relating to railroads; requiring commissioner of transportation to forgive state
loan made to Minnesota Valley Regional Rail Authority.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA:
new text begin
The commissioner of transportation shall enter into an agreement either to forgive
any money due on a loan agreement under contract number 82799 or convert the loan to
a grant. The loan was made to the Minnesota Valley Regional Rail Authority, which
was established by the counties of Carver, Sibley, Renville, Redwood, and Yellow
Medicine, to enable the Prairie Line Rail coalition to rehabilitate 94.5 miles of rail line
from Norwood in Carver County to Hanley Falls in Yellow Medicine County in order to
provide transportation service to the counties. The agreement must provide that all terms,
provisions, and conditions of the loan agreement are deemed to be fully satisfied and
performed on the part of the railroad authority and counties.
new text end