HF 617

as introduced - 90th Legislature (2017 - 2018) Posted on 02/02/2017 04:00pm

A bill for an act
relating to capital investment; appropriating money for capital improvements to
the Hugo Short Line Railway; authorizing the sale and issuance of state bonds.

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

Section 1. new text begin HUGO SHORT LINE RAILWAY.
new text end

new text begin Subdivision 1. new text end

new text begin Appropriation. new text end

new text begin $1,100,000 is appropriated from the bond proceeds fund
to the commissioner of transportation for a grant to Minnesota Commercial Railway for
construction of repairs and other capital improvements to approximately 6.5 miles of railroad
track described as that portion of the Minnesota Commercial Railway main running lead,
between M & D Junction in White Bear Lake and the end of the track in Hugo. This
appropriation must be used for the purposes set forth in the Minnesota Constitution, article
XI, section 5, clause (i), to improve and rehabilitate railroad rights-of-way and other rail
facilities, whether public or private.
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 $1,100,000 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