SF 511

as introduced - 89th Legislature (2015 - 2016) Posted on 02/03/2015 08:41am

A bill for an act
relating to capital investment; appropriating money for grade separated rail
crossings in the city of Moorhead; authorizing the sale and issuance of state bonds.

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

Section 1. new text begin MOORHEAD; GRADE SEPARATED RAIL CROSSINGS.
new text end

new text begin Subdivision 1. new text end

new text begin Appropriation. new text end

new text begin $47,000,000 is appropriated from the bond proceeds
fund to the commissioner of transportation for a grant to the city of Moorhead to construct
and complete phase 1 of the grade separated rail crossings project in the vicinity of 21st
Street South in the city of Moorhead, and for preliminary engineering and environmental
assessment of phase 2, the grade separated rail crossing in the vicinity of 11th Street South
in the city of Moorhead. 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 $47,000,000 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