as introduced - 84th Legislature (2005 - 2006) Posted on 12/15/2009 12:00am
A bill for an act
relating to capital improvements; authorizing the
issuance of state bonds; appropriating money for the
state's share of a high speed rail line between St.
Paul and Chicago.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA:
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$10,000,000 is appropriated from the bond proceeds fund to
the commissioner of transportation for the state's share of a
high speed rail line between St. Paul and Chicago. No part of
this appropriation may be spent to acquire or better capital
improvements that are located outside the state of Minnesota,
that may be used from time to time outside the state of
Minnesota, or that are part of a rail corridor that is not
designated by the Midwest Interstate Passenger Rail Compact.
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To provide the money appropriated in this act from the bond
proceeds fund, the commissioner of finance shall sell and issue
bonds of the state in an amount up to $10,000,000 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.
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Sections 1 and 2 are effective the day following final
enactment.
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