SF 682

as introduced - 90th Legislature (2017 - 2018) Posted on 02/07/2017 08:54am

A bill for an act
relating to capital investment; appropriating money for the Minnesota Valley
Regional Rail Authority; authorizing the sale and issuance of state bonds.

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

Section 1. new text begin MINNESOTA VALLEY REGIONAL RAIL AUTHORITY.
new text end

new text begin Subdivision 1. new text end

new text begin Appropriation. new text end

new text begin $4,000,000 is appropriated from the bond proceeds fund
to the commissioner of transportation for a grant to the Minnesota Valley Regional Rail
Authority for the rehabilitation of a portion of the railroad track between Winthrop and
Hanley Falls. The grant under this subdivision may also be used for any required
environmental documentation and remediation, predesign, design, and rehabilitation or
replacement of bridges with new bridges or culverts between Winthrop and Hanley Falls.
A grant under this section is in addition to any grant, loan, or loan guarantee for this project
made by the commissioner under Minnesota Statutes, sections 222.46 to 222.62. This
appropriation is in addition to the appropriations in Laws 2006, chapter 258, section 16,
subdivision 6; Laws 2008, chapter 179, section 16, subdivision 5; Laws 2009, chapter 93,
article 1, section 11, subdivision 4; Laws 2010, chapter 189, section 15, subdivision 5; and
Laws 2015, First Special Session chapter 5, article 1, section 10, subdivision 4.
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 $4,000,000 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