SF 786

as introduced - 90th Legislature (2017 - 2018) Posted on 02/10/2017 09:17am

A bill for an act
relating to capital investment; appropriating money for bridge and interchange
projects on a segment of marked Interstate Highway 35W; authorizing the sale
and issuance of state bonds.

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

Section 1. new text begin I-35W IN BURNSVILLE; 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 and is available as follows:
new text end

new text begin (1) $....... for flood mitigation on the bridge on marked Interstate Highway 35W over
the Minnesota River at the border of the counties of Dakota and Hennepin;
new text end

new text begin (2) $6,000,000 for capacity improvements to the interchange at marked Interstate
Highway 35W and Dakota County State-Aid Highway 32, also known as Cliff Road; and
new text end

new text begin (3) $50,000,000 for design, environmental analysis, preliminary and final engineering,
land acquisition, and construction of the proposed interchange at marked Interstate Highway
35W and 118th Street in Burnsville.
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 $....... 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