SF 2077

as introduced - 88th Legislature (2013 - 2014) Posted on 02/28/2014 09:34am

A bill for an act
relating to capital investment; appropriating money for rail capacity
improvements in the east metro; authorizing the sale and issuance of state bonds.

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

Section 1. new text begin EAST METRO RAIL CAPACITY.
new text end

new text begin Subdivision 1. new text end

new text begin Appropriation. new text end

new text begin $10,000,000 is appropriated from the bond proceeds
fund to the commissioner of transportation for a grant to Ramsey County to design and
construct rail improvements to increase freight and passenger rail capacity in the east
metro area.
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 $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.
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