1.1                          A bill for an act
  1.2             relating to capital improvements; providing for a 
  1.3             grant to the University of Minnesota to study, 
  1.4             develop, and construct a demonstration personal rapid 
  1.5             transit system; authorizing issuance of bonds; 
  1.6             appropriating money. 
  1.7   BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA: 
  1.8      Section 1.  [BONDING APPROPRIATION.] 
  1.9      (a) $4,800,000 is appropriated from the bond proceeds fund 
  1.10  to the board of regents of the University of Minnesota to 
  1.11  design, acquire, construct, furnish, and equip its patented 
  1.12  personal rapid transit system consisting of not less than 
  1.13  one-third mile of guideway and including a station control and 
  1.14  maintenance facility.  This appropriation is not available until 
  1.15  $6,200,000 is committed to the project from nonstate sources. 
  1.16     (b) All design, engineering, and location decisions must be 
  1.17  reported at least quarterly to an oversight committee consisting 
  1.18  of the president of the University of Minnesota or the 
  1.19  president's designee; a person employed in the office of 
  1.20  research services of the department of transportation appointed 
  1.21  by the commissioner of transportation; and three persons who 
  1.22  design personal rapid transit systems, appointed by the 
  1.23  president of the University of Minnesota. 
  1.24     Sec. 2.  [BOND SALE.] 
  1.25     To provide the money appropriated in section 1 from the 
  1.26  bond proceeds fund, the commissioner of finance shall sell and 
  2.1   issue bonds of the state in an amount up to $4,800,000 in the 
  2.2   manner, upon the terms, and with the effect prescribed by 
  2.3   Minnesota Statutes, sections 16A.631 to 16A.675, and by the 
  2.4   Minnesota Constitution, article XI, sections 4 to 7. 
  2.5      Sec. 3.  [STUDY; APPROPRIATION.] 
  2.6      $400,000 is appropriated from the general fund to the board 
  2.7   of regents of the University of Minnesota for a planning study 
  2.8   on the application of a personal rapid transit system to meet 
  2.9   the transportation needs of the University of Minnesota Twin 
  2.10  Cities campuses.  The study must also evaluate how to enhance 
  2.11  the commercial viability of the university's patented personal 
  2.12  rapid transit system, including an estimate of the amount of 
  2.13  money that would be available from licensing agreements if a 
  2.14  demonstration project of the personal rapid transit system is 
  2.15  successful.  The study must evaluate and recommend a repayment 
  2.16  agreement of state appropriations to design, acquire, construct, 
  2.17  furnish, and equip a personal rapid transit system.  Under the 
  2.18  agreement, repayment must be made from future returns to the 
  2.19  university from the patented system to the state fund from which 
  2.20  the money was appropriated. 
  2.21     Sec. 4.  [EFFECTIVE DATE.] 
  2.22     Sections 1 and 2 are effective the day following final 
  2.23  enactment.