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HF 465

as introduced - 88th Legislature (2013 - 2014) Posted on 02/11/2013 02:16pm

KEY: stricken = removed, old language.
underscored = added, new language.

Current Version - as introduced

Line numbers 1.1 1.2 1.3 1.4
1.5 1.6 1.7 1.8 1.9 1.10 1.11 1.12 1.13 1.14 1.15 1.16 1.17
1.18

A bill for an act
relating to transportation; highways; appropriating money for adding lanes to a
portion of Interstate Highway 494; authorizing sale of trunk highway bonds.

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

Section 1. new text begin APPROPRIATION; BOND SALE AUTHORIZATION.
new text end

new text begin Subdivision 1. new text end

new text begin Appropriation. new text end

new text begin $50,000,000 is appropriated from the bond proceeds
account in the trunk highway fund to the commissioner of transportation to construct
additional lanes on marked Interstate Highway 494 from the interchange at marked Trunk
Highway 55 to the bridge over East Fish Lake Road.
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
$50,000,000 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