HF 1435

as introduced - 90th Legislature (2017 - 2018) Posted on 02/20/2017 01:32pm

A bill for an act
relating to capital investment; appropriating money for a highway-rail grade
separation project in the city of Ramsey; authorizing the sale and issuance of state
bonds.

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

Section 1. new text begin APPROPRIATION FOR HIGHWAY-RAIL GRADE SEPARATION
PROJECT IN THE CITY OF RAMSEY.
new text end

new text begin $11,500,000 is appropriated from the bond proceeds account in the state transportation
fund to the commissioner of transportation for engineering, design, and right-of-way
acquisition for construction of an underpass on Anoka County State-Aid Highway 56,
otherwise known as Ramsey Boulevard, under the Burlington Northern Santa Fe railroad
in the city of Ramsey.
new text end

Sec. 2. new text begin BOND AUTHORIZATION.
new text end

new text begin To provide the money appropriated in sections 1 and 2 from the bond proceeds account
in the state transportation fund, the commissioner of management and budget shall sell and
issue bonds of the state in an amount up to $11,500,000 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. The proceeds of the bonds, except accrued
interest and any premium received on the sale of the bonds, must be credited to the bond
proceeds account in the state transportation fund.
new text end