HF4309

Purpose

• The bill would fund railroad crossing safety improvements in Hennepin County and the cities of Medina, Independence, and Loretto by making a capital investment grant and issuing state bonds to pay for the work.

Main provisions

• Appropriation: Provides $390,000 from the bond proceeds fund to the commissioner of transportation. The money can be given as one or more grants to Hennepin County, Medina, Independence, Loretto, or a combination of these entities.
• Use of funds: The grants would be used to design, engineer, and construct railroad crossing safety improvements and to perform street reconstruction at Town Line Road in Medina, Independence, and Loretto.
• Bond financing: To provide the funds, the state would issue bonds totaling up to $390,000. The bond issuance would follow the terms and effects required by Minnesota law (Minnesota Statutes sections 16A.631 to 16A.675) and the Minnesota Constitution (Article XI, sections 4 to 7).

Funding and financing details

• Funding source: Bond proceeds fund.
• Bond issuance: State would sell and issue bonds up to $390,000 through the Department of Management and Budget, in accordance with current bonding statutes and constitutional provisions.

Geographical scope and project focus

• Area affected: Hennepin County plus the cities of Medina, Independence, and Loretto.
• Projects: Railroad crossing safety improvements and street reconstruction on Town Line Road in the three municipalities.

Significant changes to existing law

• Creates a new capital investment appropriation and a new bond-issuing authorization to fund design, engineering, and construction work for railroad crossing safety improvements and related street reconstruction in the specified area.
• Requires issuance of bonds according to existing bonding laws and constitutional provisions.

What this means in plain terms

• The state would borrow up to $390,000 to pay for safety upgrades at railroad crossings and nearby street work at Town Line Road in Medina, Independence, and Loretto. The funding would come as grants from the bond proceeds fund, administered as grants to the local governments or a combination of them, and the bonds would be sold by the state under existing legal rules.

Relevant Terms - railroad crossing safety improvements - Town Line Road - Hennepin County - Medina - Independence - Loretto - appropriation - bond proceeds fund - grants - design, engineer, construct - street reconstruction - bond sale / bonds - Minnesota Statutes 16A.631 to 16A.675 - Minnesota Constitution Article XI