HF 4057

as introduced - 93rd Legislature (2023 - 2024) Posted on 02/22/2024 02:56pm

A bill for an act
relating to transportation; appropriating money for an interchange project on East
River Road at marked Trunk Highway 610 in the city of Coon Rapids; authorizing
the sale and issuance of state bonds.

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

Section 1. new text begin ANOKA COUNTY; EAST RIVER ROAD.
new text end

new text begin Subdivision 1. new text end

new text begin Appropriation. new text end

new text begin $23,100,000 is appropriated from the bond proceeds
account in the trunk highway fund to the commissioner of transportation to complete the
final design of and acquire right-of-way for interchange construction and associated
improvements to marked Trunk Highway 610 at Anoka County State-Aid Highway 1 (East
River Road) in the city of Coon Rapids. This appropriation is for the portion of the project
that is eligible for use of proceeds of trunk highway bonds. Any money remaining after
completion of final design and acquisition of right-of-way, upon written notice to the
commissioner of management and budget, may be used to construct the interchange.
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 $23,100,000 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 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