Bill Text: MN SF1989 | 2011-2012 | 87th Legislature | Introduced
Bill Title: Greater Minnesota transit bond issue and appropriation
Sponsorship: Bipartisan Bill
Status: (Introduced - Dead) 2012-02-20 - Referred to Transportation [SF1989 Detail]
Download: Minnesota-2011-SF1989-Introduced.html
1.2relating to transportation; capital improvements; appropriating money for greater
1.3Minnesota transit; authorizing sale of bonds of the state.
1.4BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA:
1.5 Section 1. APPROPRIATION.
1.6$10,000,000 is appropriated from the bond proceeds fund to the commissioner of
1.7transportation for greater Minnesota transit systems to be used for transit capital facilities
1.8under Minnesota Statutes, section 174.24, subdivision 3c. Money from this appropriation
1.9may be used to pay up to 80 percent of the nonfederal share of these facilities.
1.10 Sec. 2. BOND SALE.
1.11To provide the money appropriated in section 1 from the bond proceeds fund, the
1.12commissioner of management and budget shall sell and issue bonds of the state in an
1.13amount up to $10,000,000 in the manner, upon the terms, and with the effect prescribed by
1.14Minnesota Statutes, sections 16A.631 to 16A.675, and by the Minnesota Constitution,
1.15article XI, sections 4 to 7.
1.16EFFECTIVE DATE.This section is effective the day following final enactment.
1.3Minnesota transit; authorizing sale of bonds of the state.
1.4BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA:
1.5 Section 1. APPROPRIATION.
1.6$10,000,000 is appropriated from the bond proceeds fund to the commissioner of
1.7transportation for greater Minnesota transit systems to be used for transit capital facilities
1.8under Minnesota Statutes, section 174.24, subdivision 3c. Money from this appropriation
1.9may be used to pay up to 80 percent of the nonfederal share of these facilities.
1.10 Sec. 2. BOND SALE.
1.11To provide the money appropriated in section 1 from the bond proceeds fund, the
1.12commissioner of management and budget shall sell and issue bonds of the state in an
1.13amount up to $10,000,000 in the manner, upon the terms, and with the effect prescribed by
1.14Minnesota Statutes, sections 16A.631 to 16A.675, and by the Minnesota Constitution,
1.15article XI, sections 4 to 7.
1.16EFFECTIVE DATE.This section is effective the day following final enactment.
