Minnesota Session Laws - 1994, Regular Session

                            CHAPTER 605-S.F.No. 1736 
                  An act relating to metropolitan government; providing 
                  for financial assistance and capital expenditures of 
                  the regional transit board; amending Minnesota 
                  Statutes 1992, sections 473.375, subdivision 13; and 
                  473.39, subdivision 1b.  
        BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA: 
                                   ARTICLE 1 
           Section 1.  Minnesota Statutes 1992, section 473.375, 
        subdivision 13, is amended to read: 
           Subd. 13.  [FINANCIAL ASSISTANCE.] The board may provide 
        financial assistance to the commission and other providers as 
        provided in sections 473.371 to 473.449 in furtherance of and in 
        conformance with the implementation plan of the board.  The 
        board may not use the proceeds of bonds issued by the council 
        under section 473.39 to provide capital assistance to private, 
        for-profit operators of public transit, unless the operators 
        provide service under a contract with the board or recipients of 
        financial assistance under sections 473.371 to 473.449. 
           Sec. 2.  [EFFECTIVE DATE.] 
           Section 1 is effective the day after its final enactment.  
                                   ARTICLE 2 
           Section 1.  Minnesota Statutes 1992, section 473.39, 
        subdivision 1b, is amended to read: 
           Subd. 1b.  [OBLIGATIONS; 1993-1996.] The council may also 
        issue certificates of indebtedness, bonds, or other obligations 
        under this section in an amount not exceeding $62,000,000, of 
        which $44,000,000 may be used by the commission for fleet 
        replacement, facilities, and capital equipment, and $18,000,000 
        may be used by the board for transit hubs, park-and-ride lots, 
        community-based transit vehicles and replacement service program 
        vehicles, and intelligent vehicle highway systems projects, and 
        other capital expenditures as prescribed in the implementation 
        and capital plans of the board, and related costs including the 
        cost of issuance and sale of the obligations.  The council may 
        issue $32,000,000 of the total amount authorized under this 
        subdivision during fiscal biennium ending 1993, $30,000,000 
        during fiscal biennium ending 1995. 
           Sec. 2.  [EFFECTIVE DATE.] 
           Section 1 is effective the day after its final enactment. 
                                   ARTICLE 3 
           Section 1.  [APPLICATION.] 
           Articles 1 and 2 apply in the counties of Anoka, Carver, 
        Dakota, Hennepin, Ramsey, Scott, and Washington. 
           Presented to the governor May 5, 1994 
           Signed by the governor May 6, 1994, 11:57 a.m.