HF 2766

as introduced - 89th Legislature (2015 - 2016) Posted on 03/10/2016 03:21pm

A bill for an act
relating to transportation; capital investment; appropriating money for
improvements to marked Trunk Highway 62; authorizing the sale and issuance
of trunk highway bonds.

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

Section 1. new text begin MARKED TRUNK HIGHWAY 62 IMPROVEMENTS;
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 $....... is appropriated from the bond proceeds
account in the trunk highway fund to the commissioner of transportation for engineering,
right-of-way acquisition, and construction of additional lanes to expand capacity and
improve freight movement on marked Trunk Highway 62 from the interchange at marked
Interstate Highway 35W to the interchange at marked Interstate Highway 494.
new text end

new text begin Subd. 2. new text end

new text begin Bond sale authorization. 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 $.......
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