language to be deleted (2) new language
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,
andintelligent 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.