HF 560

as introduced - 85th Legislature (2007 - 2008) Posted on 12/15/2009 12:00am

A bill for an act
relating to highways; authorizing trunk highway bonds to finance completion of
highway 610; appropriating money.

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

Section 1. new text begin TRUNK HIGHWAY APPROPRIATION.
new text end

new text begin $150,000,000 is appropriated from the bond proceeds account in the trunk highway
fund to the commissioner of transportation for completing the construction of marked
Trunk Highway 610.
new text end

Sec. 2. new text begin TRUNK HIGHWAY BOND SALE.
new text end

new text begin To provide the money appropriated in section 1 from the bond proceeds account
in the trunk highway fund, the commissioner of finance shall sell and issue bonds of
the state in an amount up to $150,000,000 in the manner, on 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

Sec. 3. new text begin EFFECTIVE DATE.
new text end

new text begin Sections 1 and 2 are effective the day following final enactment.
new text end