SF 4712

as introduced - 93rd Legislature (2023 - 2024) Posted on 03/08/2024 10:06am

A bill for an act
relating to capital investment; appropriating money for capital improvements for
greater Minnesota transit systems; authorizing the sale and issuance of state bonds.

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

Section 1. new text begin GREATER MINNESOTA TRANSIT.
new text end

new text begin Subdivision 1. new text end

new text begin Appropriation. new text end

new text begin $10,000,000 is appropriated from the bond proceeds
fund to the commissioner of transportation for capital assistance for publicly owned greater
Minnesota transit systems to acquire property and to predesign, construct, furnish, and equip
transit capital facilities under Minnesota Statutes, section 174.24, subdivision 3c.
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 $10,000,000 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