SF 2668

as introduced - 82nd Legislature (2001 - 2002) Posted on 12/15/2009 12:00am

  1.1                          A bill for an act 
  1.2             relating to capital improvements; authorizing the 
  1.3             issuance of state bonds; appropriating money for rail 
  1.4             service improvement. 
  1.5   BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA: 
  1.6      Section 1.  [APPROPRIATION.] 
  1.7      $12,000,000 is appropriated from the bond proceeds fund to 
  1.8   the commissioner of transportation for the purposes defined 
  1.9   under the rail service improvement program under Minnesota 
  1.10  Statutes, sections 222.46 to 222.63.  No part of this 
  1.11  appropriation may be used for capital improvement projects or 
  1.12  equipment that are or may be at any time located outside 
  1.13  Minnesota. 
  1.14     Sec. 2.  [BOND SALE.] 
  1.15     To provide the money appropriated in this act from the bond 
  1.16  proceeds fund, the commissioner of finance shall sell and issue 
  1.17  bonds of the state in an amount up to $12,000,000 in the manner, 
  1.18  upon the terms, and with the effect prescribed by Minnesota 
  1.19  Statutes, sections 16A.631 to 16A.675, and by the Minnesota 
  1.20  Constitution, article XI, sections 4 to 7. 
  1.21     Sec. 3.  [EFFECTIVE DATE.] 
  1.22     Sections 1 and 2 are effective the day following final 
  1.23  enactment.