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wan aw and fora transit projewct located within tl e metro olitan area as defined
<br />21.2a in section 473,121 subdivision 2, may be funded c7nly' after Cl ae tblet.ro olitnrl Council
<br />21,31 reviews the_?raj't for consistency with the transit .ettiorl ofthe tiletro olitan Council
<br />21 , 22 policv Ian and one at the lollawin = occurs:
<br />21 .23 (1) the Metropolitan Council finds the plolest to be consiatent'
<br />21 ..24 2 the M tro oil an Co e recd initial rinds the lro'ect to be inconsistent but after a
<br />21,29 rood Faith effort to resolve the inconsistency throe r ne Totiations with the joint powers
<br />21.26 board, agrees that the grant award may be funded; or
<br />21,27 (3) the Metro . olitan Council finds the •ro'ect to be inconsi'tent and submits the
<br />21,2a consistency issue for final determination to a anel which determines the •ro - ect to be
<br />21,29 consistent, h anel i5 Qom )osed o a member a inteci by the chair of the Motor limn
<br />21,30 Council, a member ap►ointed • the 'pint owers board and a member a creed u•on b
<br />21.21 both the chair and the joint powers board.
<br />21.32 r Grants must be funded h the .roceeds of the taxes im (red under this section
<br />21,33 bonds, notes, or other obligations issued by the joint powers board under subdivision 7,
<br />21.34 h) Notwithstandin_ the .rovisions of this subdivision in fiscal ear 2009 of the
<br />21,3s initial revenue collected under this section, the joint powers board shall allocate at least
<br />21 ,3 0 783 000 to the Metro olitan Council for o•eratin° assistance for transit,
<br />32.1 Subd. 6 Allocietion of <firunt awards. "a The board must allocate G rant awards
<br />22,2 only for the following transit purposes:
<br />32.3 (i) ca • ital im . rovements to tran'itwa '5, meted min but not li:m ci to cc�rl�rrl
<br />22.4 rail rolling..stock light rail vehicles, and buses',
<br />22.5 ( Capital costs for park •-land -fade facilities, as defined In section 174,25 7,
<br />22 .6 subdiv ;
<br />22,7 (iii) feasibility studies, p1 ane n alternatives analyses environmental studies
<br />22.a eni;ineerin, m a ,.lcq isition For transitway purposes, and construction,af transit
<br />29.9 Ways; and
<br />21.10 (1v) operating, assistance for tranartwaVS.
<br />32,12 lb) The joint powers board must anlluall lllYklyd I,lnts to each nlinilnurn • *ual'klntet
<br />22.12 county in an.k�nount no l ess tha the amount at' sales tax revenue collected within that
<br />22,13 county.
<br />2 2.14 c) No more than 1.25 percent o't' percent awards ma be annuall allocated For .
<br />22 :15 tannin studies ctesi< =n construction maintenance and operation of pedestr ro_�_k*ra_ms
<br />22,16 and bicycle programs and pathways.
<br />22.17 Subd, 7. Bowls. (a) The joint powers board or any county, acting under a joint •
<br />22.26 op �_vers a=reement as s•ecified in this section ma b resolution authorize issue and sell
<br />32.29 its bonds notes or other obli_ations for the u •ose of fundin r rants under subdivision
<br />22,20 'Th oint powers board or county may also la resolution issue bonds to refund the
<br />22,22 boner issued pursuant to this subdivision. A n
<br />22.22 ()),'The bonds of,, the joint ovve r s boR�rcl nai.lst h,e IiI'nite.d obit atic�ns w klvable aotel
<br />22,23 from or secured by taxes levied under this section.
<br />23, lc? The of any eputa may be limited cabal rations ra able solely from or
<br />23,35 secured urec! by taxes levied under this, section. i county rlltly ple3e 7e,its full, faith, credit,
<br />32.36 and taxing power as,additional security for the bonds.
<br />22.27 ( d) Bonds ma be issued in one or more series and sold without an election. The
<br />33,;16 bonds s fall be secured hear the int rest acr or rates or a variable rr to have the rank or
<br />22,29 priority, be executed h the manner be ea a, le in the manner mature and•be sub ect to
<br />32,30 the defaults redem•tions re urchases tender o wions or Gather terms and shall be sold
<br />22,32 in such manner as then toter e=wers board, the re, l'er,tana_1 railroad authority or the cointY
<br />22.32 may determine,
<br />22.33 (e) The joint powers board or any re r onal railroad authority or an count may
<br />22.34 enter into and erform all contracts deemed necessa or desirable by it to issue and secure
<br />22.35 the bonds incluclin an indenture of trust with a trustee within or without the state.
<br />23.1 f E;xce.t as otherwise •rovided in this subdivision the bonds must be issued and
<br />23.2 sold in the manner provided under chapter 475;
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