HF 385

as introduced - 90th Legislature (2017 - 2018) Posted on 01/19/2017 01:32pm

A bill for an act
relating to transportation; appropriating money for lane expansion of marked
Interstate Highway 94 and replacement of black iron overpasses in Wright County;
authorizing the sale and issuance of state bonds.

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

Section 1. new text begin INTERSTATE HIGHWAY 94 LANE EXPANSION; 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 $40,000,000 is appropriated from the bond proceeds
account in the trunk highway fund to the commissioner of transportation to widen marked
Interstate Highway 94 between marked Trunk Highway 241 in the city of St. Michael and
Wright County Road 19 in the city of Albertville to six lanes, and to replace black iron
overpasses along the same segment of highway.
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 $40,000,000 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