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HF 3829

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

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

Bill Text Versions

Engrossments
Introduction Posted on 03/21/2006

Current Version - as introduced

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A bill for an act
relating to capital investment; authorizing spending to acquire and better
public land and buildings and other public improvements of a capital nature;
appropriating money for a railroad switching yard in McLeod County;
authorizing the issuance of general obligation bonds.

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

Section 1. new text beginAPPROPRIATION; MCLEOD COUNTY RAILROAD AUTHORITY.
new text end

new text begin $700,000 is appropriated from the bond proceeds fund to the commissioner of
transportation for a grant to the McLeod County Railroad Authority and/or the city of
Glencoe to acquire land for and to design and construct a railroad switching yard facility in
Glencoe. This appropriation is not available until the commissioner of finance determines
that funds sufficient to complete the project are committed to it from nonstate sources.
new text end

Sec. 2. new text beginBOND SALE.
new text end

new text begin To provide the money appropriated in section 1 from the bond proceeds fund, the
commissioner of finance shall sell and issue bonds of the state in an amount up to $700,000
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

Sec. 3. new text beginEFFECTIVE DATE.
new text end

new text begin Sections 1 and 2 are effective the day following final enactment.
new text end