as introduced - 84th Legislature (2005 - 2006) Posted on 12/15/2009 12:00am
Engrossments | ||
---|---|---|
Introduction | Posted on 02/16/2006 |
A bill for an act
relating to railroads; appropriating money for a grant
to Minnesota Valley
Regional Rail Authority for rehabilitating
certain railroad track; authorizing
issuance of general obligation bonds.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA:
new text begin $....... is appropriated from the bond proceeds fund
to
the commissioner of transportation for a grant to the Minnesota Valley Regional
Rail
Authority for rehabilitating 33 miles of railroad track from
Gibbon to Norwood-Young
America. The commissioner may not make
the grant until the commissioner has
determined that the authority has obtained
a commitment for at least $....... in federal
funds for the project. A grant under
this section 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.
new text end
new text begin To provide the money appropriated in this section from
the
bond proceeds fund, the commissioner of finance shall
sell and issue bonds of the state
in an amount up to $....... in the manner,
on 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 new text end
new text begin This section
is effective the day following final enactment.
new text end