HF 246

as introduced - 84th Legislature (2005 - 2006) Posted on 12/15/2009 12:00am

A bill for an act
relating to capital improvements; authorizing the
issuance of state bonds; appropriating money for the
Northstar Rail Corridor.

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

Section 1. new text begin APPROPRIATION.
new text end

new text begin $37,500,000 is appropriated from the bond proceeds fund to
the commissioner of transportation for Northstar Commuter Rail,
specifically for final design and project management of a
commuter rail line serving Big Lake to downtown Minneapolis; to
acquire land for stations, maintenance facilities, and park and
ride lots; and for final design and project management of an
extension of the Hiawatha Light Rail Transit line from its
terminus in downtown Minneapolis to a new terminus near Fifth
Avenue North adjacent to the proposed downtown Minneapolis
commuter rail station.
new text end

new text begin This appropriation is not available until $37,500,000 has
been committed by local governments and approval to proceed to
final design has been authorized by the Federal Transit
Administration.
new text end

new text begin Up to $10,000,000 of this appropriation may be used for
final design and project management.
new text end

new text begin After a full-funding grant agreement has been executed with
the Federal Transit Administration for the Northstar Commuter
Rail project, the remaining balance of this appropriation not
committed for final design and project management or committed
to acquire land shall be available to construct, furnish, and
equip the Northstar Commuter Rail line and to construct,
furnish, and equip the extension of the Light Rail Transit line.
new text end

Sec. 2. new text begin BOND SALE.
new text end

new text begin To provide the money appropriated in this act from the bond
proceeds fund, the commissioner of finance shall sell and issue
bonds of the state in an amount up to $37,500,000 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.
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