Minnesota Administrative Rules

8805.0050 PURPOSE.

The transportation revolving loan fund (TRLF) is a state fund that can be used by eligible borrowers to finance approved transportation projects. The purpose of the TRLF is to attract new funding into transportation, encourage innovative approaches to financing transportation projects, and help build needed transportation infrastructure. The TRLF can provide loans and other types of financial assistance to eligible borrowers to finance transportation projects. When the loans are repaid, the funds are returned to the TRLF and used to finance another set of projects, creating a continually expanding pool of money for transportation projects.

The TRLF is jointly administered by the Minnesota Department of Transportation and the Minnesota Public Facilities Authority. Minnesota Statutes, section 446A.085, authorizes the Minnesota Public Facilities Authority to manage and administer the fund and establishes the transportation committee of the Minnesota Public Facilities Authority to review and approve financial assistance to projects certified by the commissioner of transportation. Each project must be certified by the commissioner of transportation before its consideration by the transportation committee. Parts 8805.0050 to 8805.0700 establish procedures for and information that will be used to certify projects to the transportation committee of the Minnesota Public Facilities Authority. Parts 7380.0705 to 7380.0775 provide for the administration of the Minnesota Public Facilities Authority's responsibilities.

Statutory Authority:

MS s 446A.085

History:

23 SR 1426

Published Electronically:

October 22, 2003