HF 2550

as introduced - 90th Legislature (2017 - 2018) Posted on 03/29/2017 11:32am

A bill for an act
relating to capital investment; appropriating money for a study for the Chicago-Twin
Cities passenger rail corridor; authorizing the sale and issuance of state bonds.

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

Section 1. new text begin CHICAGO-TWIN CITIES PASSENGER RAIL STUDY.
new text end

new text begin Subdivision 1. new text end

new text begin Appropriation. new text end

new text begin $1,000,000 is appropriated from the bond proceeds fund
to the commissioner of transportation to complete a study in coordination with the states of
Wisconsin and Illinois to evaluate the addition of a second train to the Chicago-Twin Cities
passenger rail corridor.
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 $1,000,000 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.
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