1.1 	A bill for an act
1.2 	relating to capital improvements; appropriating money for a grant to the 
1.3 	Minnesota Valley Regional Rail Authority to rehabilitate railroad track; 
1.4 	authorizing issuance of general obligation bonds.
1.5 	BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA:

1.6 	Section 1. APPROPRIATION; RAILROAD TRACK REHABILITATION.
 1.7 	$30,000,000 is appropriated from the bond proceeds fund to the commissioner of 
1.8 	transportation for a grant to the Minnesota Valley Regional Rail Authority to rehabilitate 
1.9 	up to 95 miles of railroad track from Norwood-Young America to Hanley Falls. A grant 
1.10 	under this paragraph is in addition to any grant, loan, or loan guarantee for this project 
1.11 	made by the commissioner under Minnesota Statutes, sections 222.46 to 222.62.

1.12 	Sec. 2. BOND SALE.
 1.13 	To provide the money appropriated by section 1 from the bond proceeds fund, 
1.14 	the commissioner of finance shall sell and issue bonds of the state in an amount up to 
1.15 	$30,000,000 in the manner, on the terms, and with the effect prescribed by Minnesota 
1.16 	Statutes, sections 16A.631 to 16A.675, and by the Minnesota Constitution, article XI, 
1.17 	sections 4 to 7.

1.18 	Sec. 3. EFFECTIVE DATE.
 1.19 	Sections 1 and 2 are effective July 1, 2007.