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SF 3815

1st Engrossment - 85th Legislature (2007 - 2008) Posted on 12/15/2009 12:00am

KEY: stricken = removed, old language.
underscored = added, new language.

Current Version - 1st Engrossment

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A bill for an act
relating to capital improvements; appropriating money for the Central Corridor
Transit Way; authorizing the sale and issuance of state bonds.

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

Section 1. new text beginCENTRAL CORRIDOR TRANSIT WAY.
new text end

new text begin Subdivision 1. new text end

new text begin Appropriation. new text end

new text begin (a) $70,000,000 is appropriated from the bond
proceeds fund to the Metropolitan Council for one or more of the following activities for
the Central Corridor light rail transit line that will connect downtown Minneapolis with
downtown St. Paul: preliminary engineering, final design, property acquisition, including
improvements and betterments of a capital nature, relocation of utilities owned by public
entities, and construction. No more than $20,000,000 of the appropriation may be used for
preliminary engineering.
new text end

new text begin (b) Hennepin and Ramsey Counties need not spend their matching money for this
project at a rate faster than dollar for dollar with the money from this appropriation.
new text end

new text begin (c) District heating and district cooling nonprofit corporations organized under
Minnesota Statutes, chapter 317A, that are exempt organizations under section 501(c)(3)
of the United States Internal Revenue Code and are public right-of-way users under
Minnesota Rules, chapter 7819, are eligible to receive grants and federal money for costs
of relocating facilities from public rights-of-way to prevent interference with public
light rail projects, unless eligibility would impact the project's Federal Transit Authority
required cost effectiveness index.
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 act from the bond
proceeds fund, the commissioner of finance shall sell and issue bonds of the state in an
amount up to $70,000,000 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

Sec. 2. new text beginEFFECTIVE DATE.
new text end

new text begin This act is effective the day following final enactment.
new text end