HF 2757

1st Engrossment - 79th Legislature (1995 - 1996) Posted on 12/15/2009 12:00am

  1.1                          A bill for an act
  1.2             relating to metropolitan government; authorizing the 
  1.3             metropolitan airports commission to issue revenue 
  1.4             bonds; regulating parking privileges; amending 
  1.5             Minnesota Statutes 1994, section 473.608, by adding 
  1.6             subdivisions. 
  1.7   BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA: 
  1.8      Section 1.  Minnesota Statutes 1994, section 473.608, is 
  1.9   amended by adding a subdivision to read: 
  1.10     Subd. 12a.  [REVENUE BONDS.] (a) The commission may issue 
  1.11  general airport revenue bonds, special facilities bonds, and 
  1.12  passenger facility charge bonds to fund: 
  1.13     (1) airports and air navigation facilities; 
  1.14     (2) other capital improvements at airports managed by the 
  1.15  commission; 
  1.16     (3) noise abatement and natural resource protection 
  1.17  measures, regardless of location and ownership; 
  1.18     (4) transportation and parking improvements related to 
  1.19  airports managed by the commission, regardless of location; and 
  1.20     (5) the refund of any outstanding obligations of the 
  1.21  commission. 
  1.22     The commission may secure the bonds with available revenue 
  1.23  in accordance with generally accepted public financial practices 
  1.24  under a resolution of the commission or trust indenture for the 
  1.25  bonds.  The bonds may not be secured by the full faith and 
  1.26  credit of the commission or a pledge of the taxing authority of 
  2.1   the commission or of any city in or for which the commission has 
  2.2   been created. 
  2.3      (b) The commission shall notify the chair of the taxes 
  2.4   committee of the House of Representatives and the chair of the 
  2.5   taxes and tax laws committee of the Senate of any proposal to 
  2.6   issue bonds under this subdivision and provide them an 
  2.7   opportunity to review the proposal. 
  2.8      (c) The commission may obligate itself to establish, 
  2.9   revise, and collect rates, fees, charges, and rentals for all 
  2.10  airport and air navigation facilities used by or made available 
  2.11  to any person, firm, association, or corporation to produce 
  2.12  revenues sufficient: 
  2.13     (1) to pay principal and interest on all obligations of the 
  2.14  commission; 
  2.15     (2) to fund reserves for the bonds; 
  2.16     (3) to pay other commission expenses in accordance with law.
  2.17     (d) (1) Any pledge of revenues under this section is 
  2.18  subordinate to the pledge of current revenues to cancel taxes 
  2.19  levied for general obligation revenue bonds issued under section 
  2.20  473.665. 
  2.21     (2) Subject to clause (1), if the bonds meet the conditions 
  2.22  of section 473.667, subdivision 7, the commission may pledge 
  2.23  revenues to the revenue bonds issued under this subdivision on a 
  2.24  parity with the pledge of revenues to general obligation revenue 
  2.25  bonds issued under section 473.667.  The pledge of revenues to 
  2.26  revenue bonds issued under this subdivision may be prior to the 
  2.27  obligation under section 473.667, subdivision 6, to repay any 
  2.28  deficiency taxes levied for general obligation revenue bonds. 
  2.29     (3) The commission may pledge revenues of any discrete 
  2.30  facility or portions of the airport and air navigation 
  2.31  facilities of the commission to the bonds.  The commission may 
  2.32  establish reserves from any available funds or the proceeds of 
  2.33  the bonds and may make other covenants as it deems necessary to 
  2.34  protect the holders of the bonds.  Passenger facility charge 
  2.35  bonds may pledge receipts from passenger facility charges 
  2.36  separately or together with a pledge of other revenues. 
  3.1      (e) The commission may use any powers under chapter 475, 
  3.2   except the power to issue general obligation bonds. 
  3.3      Sec. 2.  Minnesota Statutes 1994, section 473.608, is 
  3.4   amended by adding a subdivision to read: 
  3.5      Subd. 23.  [PARKING PRIVILEGES.] Except as otherwise 
  3.6   provided in this subdivision, the commission may not provide 
  3.7   free parking at the Minneapolis-Saint Paul international airport 
  3.8   terminal.  The commission may provide free parking to employees 
  3.9   and members of the commission who are at the terminal on 
  3.10  official business.  The commission may provide free parking at 
  3.11  the Minneapolis-Saint Paul international airport terminal for 
  3.12  persons who are not employees or members of the commission if 
  3.13  those persons are attending a meeting of the commission or 
  3.14  performing volunteer work in the terminal.  A card or pass 
  3.15  issued to provided free parking must have an expiration date of 
  3.16  no later than one year after the card or pass is issued.  The 
  3.17  commission shall require an expired card to be returned to the 
  3.18  commission or otherwise accounted for.  The commission shall 
  3.19  maintain a record of who receives free parking at the terminal, 
  3.20  including the person's name and organization, the date, the 
  3.21  dollar value of the free parking provided, and the purpose for 
  3.22  which the free parking was provided. 
  3.23     Sec. 3.  [EXISTING PARKING CARDS EXPIRE.] 
  3.24     All cards or passes authorizing free parking at the 
  3.25  Minneapolis-Saint Paul international airport terminal issued by 
  3.26  the commission before the effective date of this act, expire on 
  3.27  the effective date of this act.  The commission shall insure 
  3.28  that all free parking cards or passes issued on or after the 
  3.29  effective date of this act are distinguishable from any cards or 
  3.30  passes previously issued.  The commission shall not honor 
  3.31  expired free parking cards or passes. 
  3.32     Sec. 4.  [APPLICATION.] 
  3.33     This act applies in the counties of Anoka, Carver, Dakota, 
  3.34  Hennepin, Ramsey, Scott, and Washington.