HF 1709

as introduced - 88th Legislature (2013 - 2014) Posted on 04/04/2013 01:25pm

A bill for an act
relating to transportation; capital investment; appropriating money for transit
improvement areas; authorizing the sale and issuance of state bonds.

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

Section 1. new text begin TRANSIT IMPROVEMENT AREAS.
new text end

new text begin Subdivision 1. new text end

new text begin Appropriation. new text end

new text begin $....... is appropriated from the bond proceeds
fund to the commissioner of employment and economic development for grants or loans
to eligible organizations for transit area improvements that meet the requirements under
Minnesota Statutes, section 469.351.
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 $....... 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