HF 2018

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

  1.1                          A bill for an act
  1.2             relating to capital investment; appropriating money 
  1.3             for personal rapid transit demonstration project; 
  1.4             authorizing issuance of general obligation bonds; 
  1.5             appropriating money. 
  1.6   BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA: 
  1.7      Section 1.  [PERSONAL RAPID TRANSIT DEMONSTRATION PROJECT.] 
  1.8      Subdivision 1.  [APPROPRIATION.] $....... is appropriated 
  1.9   from the bond proceeds fund to the commissioner of 
  1.10  transportation to design, acquire, construct, furnish, and equip 
  1.11  a personal rapid transit demonstration project within the city 
  1.12  of Minneapolis, consisting at a minimum of a 2,200-foot oval 
  1.13  guideway, one off-line station, and a maintenance and control 
  1.14  facility.  The demonstration project must be developed so that 
  1.15  it will connect with the Hiawatha light rail transit line.  This 
  1.16  appropriation is not available until the commissioner of finance 
  1.17  determines that at least $....... in private funds have been 
  1.18  committed to pay for at least three personal rapid transit 
  1.19  vehicles, engineering, and six months of operational testing.  
  1.20  The commissioner may enter into management agreements subject to 
  1.21  Minnesota Statutes, section 16A.695. 
  1.22     Subd. 2.  [PROJECT PURPOSE; SCOPE.] This appropriation is 
  1.23  made to demonstrate the patented personal rapid transit 
  1.24  technology for sustainable public transit service, to provide an 
  1.25  opportunity for engineers to be trained in its design and use, 
  2.1   and to establish a new and economically self-sustaining, viable 
  2.2   technology in Minnesota so that the University of Minnesota may 
  2.3   realize royalty benefits from an existing agreement. 
  2.4      Sec. 2.  [BOND SALE.] 
  2.5      To provide the money appropriated in section 1 from the 
  2.6   bond proceeds fund, the commissioner of finance shall sell and 
  2.7   issue bonds of the state in an amount up to $....... in the 
  2.8   manner, on the terms, and with the effect prescribed by 
  2.9   Minnesota Statutes, sections 16A.631 to 16A.675, and by the 
  2.10  Minnesota Constitution, article XI, sections 4 to 7. 
  2.11     Sec. 3.  [EFFECTIVE DATE.] 
  2.12     Sections 1 and 2 are effective the day following final 
  2.13  enactment.