HF 2371

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

A bill for an act
relating to capital improvements; appropriating money for a highway 10/61
corridor vista enhancement project; authorizing sale of general obligation bonds.

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

Section 1. new text begin COTTAGE GROVE CORRIDOR VISTA ENHANCEMENT
PROJECT.
new text end

new text begin Subdivision 1. new text end

new text begin Appropriation. new text end

new text begin $5,000,000 is appropriated from the bond proceeds
account in the transportation fund to the commissioner of transportation to be disbursed as
grants to the city of Cottage Grove for a marked Trunk Highway 10/61 Corridor Vista
Enhancement project. In accordance with Minnesota Statutes, section 174.50, the city
may use the funds for improvements or enhancements within contiguous publicly owned
areas adjacent to and within one-half mile to the north and south sides of marked Trunk
Highway 10/61 between the 70th Street overpass and the Jamaica Avenue underpass,
including the 80th Street overpass, within Cottage Grove. The funds must be used for
predesign, design, and construction of a scenic overlook, picnic shelters, landscaping,
trails, interpretive signage, information signage, ornamental fencing, banners, safety
lighting, decorative improvements, park and open-space improvements, exotic species
management, and major surface water management improvements.
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 account in the transportation fund, the commissioner of finance shall sell
and issue bonds of the state in an amount up to $5,000,000 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. The proceeds of the bonds, except
accrued interest and any premium received on the sale of the bonds, must be credited to
a bond proceeds account in the state transportation 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