SF 2935

as introduced - 81st Legislature (1999 - 2000) Posted on 12/15/2009 12:00am

  1.1                          A bill for an act 
  1.2             relating to metropolitan government; providing for 
  1.3             additional bonding authority for the financing of 
  1.4             metropolitan area transit and paratransit capital 
  1.5             expenditures; amending Minnesota Statutes 1999 
  1.6             Supplement, section 473.39, subdivision 1g. 
  1.7   BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA: 
  1.8      Section 1.  Minnesota Statutes 1999 Supplement, section 
  1.9   473.39, subdivision 1g, is amended to read: 
  1.10     Subd. 1g.  [OBLIGATIONS; 2000-2002.] In addition to the 
  1.11  authority in subdivisions 1a, 1b, 1c, 1d, and 1e, the council 
  1.12  may issue certificates of indebtedness, bonds, or other 
  1.13  obligations under this section in an amount not exceeding 
  1.14  $36,000,000 $52,000,000, which may be used for capital 
  1.15  expenditures, other than for construction, maintenance, or 
  1.16  operation of light rail transit, as prescribed in the council's 
  1.17  transit capital improvement program and for related costs, 
  1.18  including the costs of issuance and sale of the obligations.  
  1.19  The funds must be proportionally spent on capital improvement 
  1.20  projects as recommended by the regional transit capital 
  1.21  evaluation committee. 
  1.22     Sec. 2.  [APPLICATION.] 
  1.23     Section 1 applies in the counties of Anoka, Carver, Dakota, 
  1.24  Hennepin, Ramsey, Scott, and Washington.