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HF 2591

as introduced - 92nd Legislature (2021 - 2022) Posted on 05/03/2021 04:10pm

KEY: stricken = removed, old language.
underscored = added, new language.
Line numbers 1.1 1.2 1.3 1.4
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A bill for an act
relating to capital investment; appropriating money for the Minnesota Valley
Regional Rail Authority; authorizing the sale and issuance of state bonds.

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

Section 1. new text beginMINNESOTA VALLEY REGIONAL RAIL AUTHORITY.
new text end

new text begin Subdivision 1. new text end

new text begin Appropriation. new text end

new text begin $15,000,000 is appropriated from the bond proceeds
fund to the commissioner of transportation for a grant to the Minnesota Valley Regional
Rail Authority to rehabilitate a portion of the railroad track between Winthrop and Hanley
Falls. The grant under this subdivision may also be used for any required environmental
documentation and remediation, predesign, design, and rehabilitation or replacement of
bridges with new bridges or culverts between Winthrop and Hanley Falls. A portion of the
grant under this subdivision may also be used as matching funds to meet federal grant
requirements. A grant under this subdivision is in addition to any grant, loan, or loan
guarantee for this project made by the commissioner under Minnesota Statutes, sections
222.46 to 222.62. This appropriation is in addition to the appropriations under Laws 2006,
chapter 258, section 16, subdivision 6; Laws 2008, chapter 179, section 16, subdivision 5;
Laws 2009, chapter 93, article 1, section 11, subdivision 4; Laws 2010, chapter 189, section
15, subdivision 5; Laws 2015, First Special Session chapter 5, article 1, section 10,
subdivision 4; Laws 2017, First Special Session chapter 8, article 1, section 15, subdivision
7; and Laws 2018, chapter 214, article 1, section 16, subdivision 4.
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 $15,000,000 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