#Pyth, 32 31 bytes
Pyth, 32 31 bytes
I golfed something in python but it turned out to be exactly the same as Sp3000's answer. So I decided to give Pyth a try:
V48<%"'%02d:%d0',",/N2*3%N2-54N
It's a exact translation of Sp3000 answer:
for i in range(48):print"'%02d:%d0',"[:57-i]%(i/2,i%2*3)
It's my first go at Pyth, so please do enlighten me about that 1 byte saving.