SF 284

as introduced - 91st Legislature (2019 - 2020) Posted on 11/02/2020 09:15am

A bill for an act
relating to transportation; appropriating money to construct an interchange at
marked Trunk Highway 36 and County State-Aid Highway 15; authorizing the
sale and issuance of state bonds.

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

Section 1. new text begin INTERCHANGE AT MARKED TRUNK HIGHWAY 36 AND COUNTY
STATE-AID HIGHWAY 15; APPROPRIATION AND TRUNK HIGHWAY BOND
SALE AUTHORIZATION.
new text end

new text begin Subdivision 1. new text end

new text begin Appropriation. new text end

new text begin $15,000,000 is appropriated from the bond proceeds
account in the trunk highway fund to the commissioner of transportation to design, construct,
furnish, and equip an interchange at marked Trunk Highway 36 and County State-Aid
Highway 15, known as Manning Avenue, in Washington County.
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 subdivision 1 from the bond
proceeds account in the trunk highway fund, the commissioner of management and budget
shall sell and issue bonds of the state in an amount up to $15,000,000 in the manner, upon
the terms, and with the effect prescribed by Minnesota Statutes, sections 167.50 to 167.52,
and by the Minnesota Constitution, article XIV, section 11, at the times and in the amounts
requested by the commissioner of transportation. The proceeds of the bonds, except accrued
interest and any premium received from the sale of the bonds, must be deposited in the bond
proceeds account in the trunk highway fund.
new text end

new text begin EFFECTIVE DATE. new text end

new text begin This section is effective the day following final enactment.
new text end