as introduced - 87th Legislature (2011 - 2012) Posted on 01/31/2011 10:16am
Engrossments | ||
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Introduction | Posted on 01/31/2011 |
A bill for an act
relating to transportation; appropriating money for local bridge replacement and
rehabilitation; authorizing sale and issuance of state bonds.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA:
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$50,000,000 is appropriated from the bond proceeds
account in the state transportation fund as provided in Minnesota Statutes, section 174.50,
to the commissioner of transportation for matching federal funds and replacement or
rehabilitation of local bridges under Minnesota Statutes, section 174.50.
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To provide the money appropriated in this section from the
state transportation fund, the commissioner of management and budget shall sell and issue
bonds of the state in an amount up to $50,000,000 in the manner, upon the terms, and
with the effect prescribed by Minnesota Statutes, sections 16A.631 to 16A.675, 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.
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This section is effective the day following final enactment.
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