1.1 	A bill for an act
1.2 	relating to capital investment; appropriating money for the rural airport program; 
1.3 	authorizing the sale and issuance of state bonds.
1.4 	BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA:

1.5 	Section 1. MINNESOTA RURAL AIRPORT PROGRAM.
 1.6 		Subdivision 1.Appropriation. $10,000,000 is appropriated from the bond proceeds 
1.7 	fund to the commissioner of transportation for the rural airport program for grants to local 
1.8 	governments that own airports which do not qualify for federal funding and are not part of 
1.9 	the Federal Aviation Administration National Plan of Integrated Airport Systems.
1.10 		Subd. 2.Bond sale. To provide the money appropriated in this section from the bond 
1.11 	proceeds fund, the commissioner of management and budget shall sell and issue bonds of 
1.12 	the state in an amount up to $10,000,000 in the manner, upon the terms, and with the effect 
1.13 	prescribed by Minnesota Statutes, sections 16A.631 to 16A.675, and by the Minnesota 
1.14 	Constitution, article XI, sections 4 to 7.

1.15 	EFFECTIVE DATE. This section is effective the day following final enactment.