HF 3682

as introduced - 84th Legislature (2005 - 2006) Posted on 12/15/2009 12:00am

A bill for an act
relating to metropolitan government; providing for the additional financing of
metropolitan area transit and paratransit capital expenditures; authorizing the
issuance of certain obligations; amending Minnesota Statutes 2004, section
473.39, by adding a subdivision.

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

Section 1.

Minnesota Statutes 2004, section 473.39, is amended by adding a
subdivision to read:

new text begin Subd. 11. new text end

new text begin Obligations. new text end

new text begin After July 1, 2006, in addition to the authority in
subdivisions 1a, 1b, 1c, 1d, 1e, 1g, 1h, 1i, 1j, and 1k, the council may issue certificates of
indebtedness, bonds, or other obligations under this section in an amount not exceeding
$32,000,000 for capital expenditures as prescribed in the council's regional transit master
plan and transit capital improvement program and for related costs, including the costs of
issuance and sale of the obligations.
new text end

Sec. 2. new text begin APPLICATION.
new text end

new text begin This act applies in the counties of Anoka, Carver, Dakota, Hennepin, Ramsey,
Scott, and Washington.
new text end

Sec. 3. new text begin EFFECTIVE DATE.
new text end

new text begin This act is effective the day following final enactment.
new text end