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Minnesota Legislature

Office of the Revisor of Statutes

HF 2840

as introduced - 90th Legislature (2017 - 2018) Posted on 04/25/2018 11:52am

KEY: stricken = removed, old language.
underscored = added, new language.

Current Version - as introduced

Line numbers 1.1 1.2 1.3 1.4
1.5 1.6 1.7 1.8 1.9 1.10 1.11 1.12 1.13 1.14 1.15 1.16 1.17 1.18 1.19 1.20 1.21 1.22 1.23
2.1

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 $20,000,000 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 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; and Laws 2017, First
Special Session chapter 8, article 1, section 15, subdivision 7.
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 $20,000,000 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