1.1 	A bill for an act
1.2 	relating to capital investment; appropriating money for railroad track 
1.3 	rehabilitation; authorizing sale and issuance of general obligation bonds.
1.4 	BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA:

1.5 	Section 1. APPROPRIATION; BOND SALE AUTHORIZATION.
 1.6 		Subdivision 1.Appropriation. $10,000,000 is appropriated from the bond proceeds 
1.7 	fund to the commissioner of transportation for a grant to the Minnesota Valley Regional 
1.8 	Rail Authority to rehabilitate up to 95 miles of railroad track from Norwood-Young 
1.9 	America to Hanley Falls. A grant under this section is in addition to any grant, loan, or 
1.10 	loan guarantee for this project made by the commissioner under Minnesota Statutes, 
1.11 	sections 222.46 to 222.62.
1.12 		Subd. 2.Bond sale authorization. To provide the money appropriated by 
1.13 	subdivision 1 from the bond proceeds fund, the commissioner of finance shall sell and 
1.14 	issue bonds of the state in an amount up to $10,000,000 in the manner, upon the terms, 
1.15 	and with the effect prescribed by Minnesota Statutes, sections 16A.631 to 16A.675, and 
1.16 	by the Minnesota Constitution, article XI, sections 4 to 7.

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