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Minnesota Legislature

Office of the Revisor of Statutes

HF 2854

as introduced - 90th Legislature (2017 - 2018) Posted on 03/01/2018 05:10pm

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

Current Version - as introduced

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1.17

A bill for an act
relating to capital investment; appropriating money for the Mesabi Trail; authorizing
the sale and issuance of state bonds.

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

Section 1. new text beginMESABI TRAIL; ST. LOUIS AND LAKE COUNTIES REGIONAL
RAILROAD AUTHORITY.
new text end

new text begin Subdivision 1. new text end

new text begin Appropriation. new text end

new text begin $2,276,000 is appropriated from the bond proceeds fund
to the commissioner of natural resources for a grant to the St. Louis and Lake Counties
Regional Railroad Authority to continue construction of the Mesabi Trail, starting near
Whalston Road and going toward the city of Tower for approximately 4.5 miles. This
appropriation does not require a nonstate contribution.
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 $2,276,000 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