HF 2391

as introduced - 85th Legislature (2007 - 2008) Posted on 12/15/2009 12:00am

A bill for an act
relating to metropolitan government; providing for the additional financing of
metropolitan area transit and paratransit capital expenditures; authorizing the
issuance of certain obligations; amending Minnesota Statutes 2006, section
473.39, by adding a subdivision.

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

Section 1.

Minnesota Statutes 2006, section 473.39, is amended by adding a
subdivision to read:

new text begin Subd. 1m. new text end

new text begin OBLIGATIONS. new text end

new text begin After July 1, 2007, in addition to other authority in
this section, the council may issue certificates of indebtedness, bonds, or other obligations
under this section in an amount not exceeding $33,600,000 for capital expenditures as
prescribed in the council's regional transit master plan and transit capital improvement
program and for related costs, including the costs of issuance and sale of the obligations.
new text end

Sec. 2. new text begin APPLICATION.
new text end

new text begin Section 1 applies in the counties of Anoka, Carver, Dakota, Hennepin, Ramsey,
Scott, and Washington.
new text end

Sec. 3. new text begin EFFECTIVE DATE.
new text end

new text begin Sections 1 and 2 are effective the day following final enactment.
new text end