SF 2314

as introduced - 85th Legislature (2007 - 2008) Posted on 12/15/2009 12:00am

A bill for an act
relating to transportation; authorizing the sale of state bonds; appropriating
money for final design of extension of commuter rail service.

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

Section 1. new text begin NORTHSTAR COMMUTER RAIL.
new text end

new text begin Subdivision 1. new text end

new text begin Appropriation. new text end

new text begin $....... is appropriated from the bond proceeds
fund to the commissioner of transportation for advanced preliminary engineering, final
design, and project management of the extension of commuter rail service on the Northstar
Corridor from Big Lake to Rice, and to acquire railroad easements and land for stations,
layover facilities, and park and ride lots. After the extension of the commuter rail corridor,
regional rail authority members of the Northstar Corridor Development Authority who
did not fund a portion of the share of capital costs from Minneapolis to Big Lake shall
contribute an amount they would have contributed for their proportional share of the entire
line from Minneapolis to Rice.
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 finance shall sell and issue bonds of the state in
an amount up to $....... 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

Sec. 2. new text begin EFFECTIVE DATE.
new text end

new text begin This act is effective July 1, 2008.
new text end