1.1                          A bill for an act 
  1.2             relating to metropolitan government; providing for the 
  1.3             financing of metropolitan area transit and paratransit 
  1.4             capital expenditures; authorizing the issuance of 
  1.5             certain obligations; amending Minnesota Statutes 2002, 
  1.6             section 473.39, by adding a subdivision. 
  1.7   BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA: 
  1.8      Section 1.  Minnesota Statutes 2002, section 473.39, is 
  1.9   amended by adding a subdivision to read: 
  1.10     Subd. 1k.  [OBLIGATIONS.] After July 1, 2004, in addition 
  1.11  to the authority in subdivisions 1a, 1b, 1c, 1d, 1e, 1g, 1h, 1i, 
  1.12  and 1j, the council may issue certificates of indebtedness, 
  1.13  bonds, or other obligations under this section in an amount not 
  1.14  exceeding $32,000,000 for capital expenditures as prescribed in 
  1.15  the council's regional transit master plan and transit capital 
  1.16  improvement program and for related costs, including the costs 
  1.17  of issuance and sale of the obligations. 
  1.18     Sec. 2.  [APPLICATION.] 
  1.19     This section applies in the counties of Anoka, Carver, 
  1.20  Dakota, Hennepin, Ramsey, Scott, and Washington. 
  1.21     Sec. 3.  [EFFECTIVE DATE.] 
  1.22     This act is effective the day following its final enactment.