HF 2411

as introduced - 91st Legislature (2019 - 2020) Posted on 03/13/2019 11:22am

A bill for an act
relating to capital investment; appropriating money to remove and replace the
Third Street/Kellogg Boulevard bridge in St. Paul; authorizing the sale and issuance
of state bonds.

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

Section 1. new text begin THIRD STREET/KELLOGG BOULEVARD BRIDGE REPLACEMENT;
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 $48,000,000 is appropriated from the bond proceeds
account in the trunk highway fund to the commissioner of transportation for a grant to the
city of St. Paul to demolish and remove the existing Third Street/Kellogg Boulevard bridge
over the BNSF railroad, Commercial Street, and marked Interstate Highway 94, and to
acquire right-of-way for, design, and construct a replacement bridge that includes multimodal
elements for bicycles, pedestrians, vehicles, and mass transit. In addition, any roadway
approach reconstruction work identified within the project limits, including right-of-way
acquisition and design, and any early completion incentive, is eligible for funding. This
appropriation does not require a local match.
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 trunk highway fund, the commissioner of management and budget
shall sell and issue bonds of the state in an amount up to $48,000,000 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 accrual
interest and any premium received from the sale of 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