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A bill for an act
relating to capital investment; appropriating money for capital improvements for
bus rapid transit; authorizing the sale and issuance of state bonds.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA:
Section 1.
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BUS RAPID TRANSIT.
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Subdivision 1.
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Appropriation.
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$75,000,000 is appropriated from the bond proceeds
fund to the Metropolitan Council for real property acquisition, predesign, design, engineering,
and construction of arterial bus rapid transit, including utility relocation, demolition, and
furnishing and equipping facilities for arterial bus rapid transit projects. The council must
allocate the money among projects based on criteria in the council's transitway capital
improvement plan, including consistency with the council's transportation policy plan;
project readiness; potential current and forecasted ridership; expansion of the bus rapid
transit system; availability of federal or other matching funding; coordination with other
major projects; and additional criteria for priorities otherwise specified in state law or rule
applicable to bus rapid transit, including state law authorizing state bond fund appropriations
for a bus rapid transit project.
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Subd. 2.
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Bond sale.
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To provide the money appropriated in this section from the bond
proceeds fund, the commissioner of management and budget shall sell and issue bonds of
the state in an amount up to $75,000,000 in the manner, upon the terms, and with the effect
prescribed by Minnesota Statutes, sections 16A.631 to 16A.675, and by the Minnesota
Constitution, article XI, sections 4 to 7.
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EFFECTIVE DATE.
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This section is effective the day following final enactment.
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