as introduced - 87th Legislature (2011 - 2012) Posted on 02/20/2012 01:12pm
A bill for an act
relating to transportation; capital improvements; appropriating money for greater
Minnesota transit; authorizing sale of bonds of the state.
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 greater Minnesota transit systems to be used for transit capital facilities
under Minnesota Statutes, section 174.24, subdivision 3c. Money from this appropriation
may be used to pay up to 80 percent of the nonfederal share of these facilities.
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To provide the money appropriated in section 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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