as introduced - 89th Legislature (2015 - 2016) Posted on 03/09/2015 01:55pm
Engrossments | ||
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Introduction | Posted on 03/09/2015 |
A bill for an act
relating to capital investment; appropriating money for a road of regional
significance in Sartell; authorizing the sale and issuance of state bonds.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA:
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$4,000,000 is appropriated from the bond proceeds
account in the state transportation fund to the commissioner of transportation for a
grant under Minnesota Statutes, section 174.52, subdivision 4, to the city of Sartell, for
right-of-way acquisition and construction of a regional roadway, commonly known as the
50th Avenue project, to provide relief from the congested marked Trunk Highway 15
corridor and link multiple roadways to provide for increased economic development and
connection to existing public safety facilities.
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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 $4,000,000 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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