HF 591

as introduced - 93rd Legislature (2023 - 2024) Posted on 01/19/2023 02:56pm

A bill for an act
relating to transportation; appropriating money to expand marked Trunk Highway
5 in Carver County; 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 5 EXPANSION; APPROPRIATION
AND BOND SALE AUTHORIZATION.
new text end

new text begin Subdivision 1. new text end

new text begin Appropriation. new text end

new text begin $25,000,000 is appropriated from the bond proceeds
account in the trunk highway fund to the commissioner of transportation for a grant to
Carver County for environmental analysis, property or permanent easement acquisition,
design, engineering, and construction of improvements to marked Trunk Highway 5 in
Carver County from Minnewashta Parkway to marked Trunk Highway 41 in the city of
Chanhassen. This appropriation does not require a nonstate contribution.
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 $25,000,000 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