SF 4488

as introduced - 92nd Legislature (2021 - 2022) Posted on 04/20/2022 08:29am

A bill for an act
relating to capital investment; appropriating money for the Blue Line light rail
extension; 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 Subdivision 1. new text end

new text begin Appropriation. new text end

new text begin $200,000,000 is appropriated from the bond proceeds
fund to the Metropolitan Council for a grant to Hennepin County or the Hennepin County
Railroad Authority for one or more of the following activities for the Blue Line light rail
extension project that will connect downtown Minneapolis to northern Brooklyn Park:
predesign, design, engineering, environmental analysis and mitigation, right-of-way
acquisition, construction, equipment, and acquisition of rolling stock.
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 management and budget shall sell and issue bonds of
the state in an amount up to $200,000,000 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

new text begin EFFECTIVE DATE. new text end

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