HF 2044

as introduced - 88th Legislature (2013 - 2014) Posted on 02/25/2014 02:53pm

A bill for an act
relating to capital investment; appropriating money for the city of Baxter's Isle
Drive extension and County State-Aid Highway 48 intersection improvements;
authorizing the sale and issuance of state bonds.

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

Section 1. new text begin BAXTER ISLE DRIVE EXTENSION, CSAH 48 INTERSECTION.
new text end

new text begin Subdivision 1. new text end

new text begin Appropriation. new text end

new text begin $2,500,000 is appropriated from the bond proceeds
fund to the commissioner of transportation for a grant to the city of Baxter to acquire land
or interests in land, and to design, engineer, and construct an extension to Isle Drive
and a roundabout at the new intersection of Isle Drive and County State-Aid Highway
48. This appropriation is not available until the commissioner of management and budget
determines that at least an equal amount is committed to the project from nonstate sources.
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 this section from the
bond proceeds fund, the commissioner of management and budget shall sell and issue
bonds of the state in an amount up to $2,500,000 in the manner, upon the terms, and with
the effect prescribed by Minnesota Statutes, sections 16A.631 to 16A.675, and by the
Minnesota Constitution, article XI, sections 4 to 7.
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