SF 2860

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

A bill for an act
relating to capital improvements; appropriating money for the Northshore
Express Inter-City Passenger Rail; authorizing the sale and issuance of state
bonds.

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

Section 1. new text begin APPROPRIATION.
new text end

new text begin $1,950,000 is appropriated from the bond proceeds fund to the commissioner of
transportation for a grant to the St. Louis and Lake Counties Regional Railroad Authority
to acquire land, to conduct design, engineering, and environmental studies and to construct
or reconstruct rail lines, railway stations, and other railroad appurtenances necessary to
facilitate the return of passenger rail service within Duluth and the Duluth/Minneapolis
rail corridor.
new text end

Sec. 2. new text begin BOND SALE.
new text end

new text begin To provide the money appropriated in section 1 from the bond proceeds fund,
the commissioner of finance shall sell and issue bonds of the state in an amount up to
$1,950,000 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

Sec. 3. new text begin EFFECTIVE DATE.
new text end

new text begin Sections 1 and 2 are effective the day following final enactment.
new text end