HF 603

as introduced - 85th Legislature (2007 - 2008) Posted on 12/15/2009 12:00am

A bill for an act
relating to transportation; authorizing sale of state transportation bonds;
appropriating money to match federal funds for Mississippi River crossing
corridor in or near the city of Brainerd.

BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA:

Section 1. new text begin MISSISSIPPI RIVER CROSSING CORRIDOR.
new text end

new text begin Subdivision 1. new text end

new text begin Appropriation. new text end

new text begin $200,000 is appropriated from the state
transportation fund to enable the city of Brainerd to satisfy the requirement to match
federal funds of $800,000 for project scoping, a corridor study, environmental impact
statement preparation, preparing an official map, and acquiring needed right-of-way for
the Mississippi River crossing corridor in or near the city of Brainerd.
new text end

new text begin Subd. 2. new text end

new text begin Bond sale. new text end

new text begin To provide the money appropriated in this section from the
state transportation fund, the commissioner of finance shall sell and issue bonds of the
state in an amount up to $200,000 in the manner, upon the terms, and with the effect
prescribed by Minnesota Statutes, sections 16A.631 to 16A.675 and 174.51, and by the
Minnesota Constitution, article XI, sections 4 to 7. The proceeds of the bonds, except
accrued interest and any premium received on the sale of the bonds, must be credited to
a bond proceeds account in the state transportation fund.
new text end

Sec. 2. new text begin EFFECTIVE DATE.
new text end

new text begin Section 1 is effective the day following final enactment.
new text end