HF 2149

as introduced - 84th Legislature (2005 - 2006) Posted on 12/15/2009 12:00am

A bill for an act
relating to highways; authorizing issuance of trunk
highway bonds for reconstructing interchange with
Interstate Highway 35W and County Road J and Lake
Avenue, with improvements; appropriating money.

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

Section 1. new text begin APPROPRIATION.
new text end

new text begin $75,000,000 is appropriated from the bond proceeds account
in the trunk highway fund to the commissioner of transportation
to reconstruct the interchange with Interstate Highway 35W and
County Road J and Lake Avenue and to include lane additions on
portions of Interstate Highway 35W and U.S. Highway 10 and a
noise barrier on a portion of U.S. Highway 10.
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 $75,000,000 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

new text begin EFFECTIVE DATE. new text end

new text begin This section is effective the day
following final enactment.
new text end